Shareholders of Central Bank of India at an Extra-ordinary General Meeting held at Mumbai, have passed a special resolution  for giving authority to the Board of Directors and its committee namely-Capital Raising Committee, to create, offer, issue and allot upto 15,38,68,113 equity shares to Government of India (GOI) of the face value of Rs. 10/- each on preferential basis at a conversion price of Rs. 105.09 per Equity Share determined in accordance with SEBI ICDR Regulations, 2009 by conversion of 161,70,00,000 Perpetual Non-Cumulative Preference Shares (PNCPS) of the face value of Rs. 10.00 each held by GOI aggregating upto Rs. 1617.00 crore.

Source : Sachin Murdeshwar