Centurion Bank of Punjab (CBP) has decided to raise Rs 800 crore of capital through a combination of preferential allotment and an international or a domestic issue of equity. It will raise Rs 384 crore through a preferential issue of equity to funds managed by GW Capital, ChrysCapital and Citigroup Venture Capital International Growth Partnership Mauritius. The preferential allotment will be made at Rs 19.25 per equity share. Another Rs 416 crore will be raised through issue of fresh equity in the domestic or international market. The bank has proposed to make preferential allotment of 70 million equity shares each to funds managed by GW Capital and its affiliates and nominees and ChrysCapital. It would allot another 59 million equity shares to funds managed by Citigroup Venture Capital International Growth Partnership Mauritius for a consideration of Rs 114 crore. Via Business Standard)

A report in The Economic Times has additional details: GW Capital and ChrysCapital would take 4.7 per cent stake and Citigroup 4 per cent in Centurion Bank. (Via Business Standard)

SNAPSHOT

Investment By PE Firms

GW Capital: Rs 135 crore (70 million shares) - 4.7 per cent

ChrysCapital: Rs 135 crore (70 million shares) - 4.7 per cent

Citigroup Venture Capital: Rs 114 crore (59 million shares) - 4 per cent

Posted on 11/30/05, 8:41 AM
in: Main Page
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