Central Bank of India to divest its entire stake of 64.4% in Cent Bank Home Finance; Stock ends bullish

The bank announced its decision to divest stake in the home finance company on December 24, 2020.

Dec 28, 2020 04:12 IST India Infoline News Service

Investors gave thumbs-up to Central Bank of India on its plan to divest entire shareholding in Cent Bank Home Finance.

On Sensex, the bank's stock ended at Rs14.05 per piece up 1.37%.

However, the stock has gained by nearly 4% so far today on Sensex with an intraday high of Rs14.39 per piece.

The bank announced its decision to divest stake in the home finance company on December 24, 2020.

The bank said that it has s entered into a binding agreement to divest its entire equity stake of 64.40% i.e.1,61,00,000 shares of the face value of Rs 10/-each in Cent Bank Home Finance to Centrum Housing Finance Limited, subject to approvals from regulatory authorities.

Cent Bank is a deposit-taking Housing Finance and Mortgage Company jointly promoted by four Public Sector Institutions, viz. Central Bank of India, National Housing Bank, Specified Undertaking of Unit Trust of India and Housing and Urban Development Corporation.

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