New generation private sector lender Centurion Bank of Punjab (CBP) on Friday said it will raise Rs 500 crore through a qualified institutional placement of equity shares.
Shareholders at their annual general meeting today gave a go ahead to the banks plan to raise money, CBP informed the Bombay Stock Exchange.
The bank also got shareholders' approval to the proposed Employee Stock Option Plan under which it will issue 10 crore additional stock options to its staff.
Centurion Bank of Punjab was formed after a merger of Centurion Bank and Bank of Punjab, and has a nationwide network of 279 branches and 408 ATMs.
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