Bank of India

Central Bank of India filed its DRHP with SEBI on 22-05-07, to come out with a public issue of 8 crore equity shares of Rs.10 each. BRLM are ICICI, Citigroup, Enam, IDBI Capital and Kotak.

The bank has 3,194 branches and is the third biggest bank with employee strength of 39,055. The dilution is to the extent of 20% and government would hold 80.20% equity, post issue. The net worth of the bank as at 31-03-07 was Rs.3,304 crores with book-value per share at Rs.77.25.

In March 02, the bank had unabsorbed losses of Rs.681 crores which were netted off against equity. Of the balance equity capital of Rs.1,124 crores,  Rs.800 crore  was converted into preference capital and balance of Rs.324 crore remained as equity capital.  For FY 07 the bank had a net profit of Rs.498 crores resulting in an EPS of Rs.15.37.

The bank's gross NPA on 31-03-07 was placed at 4.81%, being Rs.2,572 crores,  while net NPA was at Rs.878 crores being 1.70%. Govt. of India had also issued bonds of Rs.1,623 crores for restructuring of the Bank in the past.