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India’s banking sector continues to shine with strong FY26 profits and consistent growth! 🇮🇳🏦

India’s banking sector continues to shine with strong FY26 profits and consistent growth! 🇮🇳🏦

From SBI to PSU and private banks, the sector is powering India’s economy with trust, stability, and performance. 💹

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Breaking! Govt has announced to sell 8% stake in Central Bank of India

The Government of India has announced 8% stake sale in Central Bank of India via an offer for sale (OFS).

Goldman Sachs (India) Securities Private Limited has been appointed as the broker for the seller in the transaction.

What is OFS?

OFS stands for Offer for Sale. It is a process in which the Government or a company sells its shares to investors through the stock exchange. In this case, the Government of India has announced an OFS to sell an 8% stake in Central Bank of India

Shares of Central Bank of India declined as much as 6.5% after this announcement was made by the Government.

In addition, the Centre retained the option to sell an equal number of shares under the oversubscription option. The OFS, if the green shoe option is exercised, is likely to be worth around ₹2,455 crore, based on the closing price of the bank’s stock on Thursday.

Currently, the government holds 89.27% stake in the bank.

Important Points about OFS

 According to the offer document, at least 10% of the offer shares will be reserved for retail investors, while 75,00,000 equity shares have been earmarked for eligible employees of the bank.

 Retail investors will also be eligible to bid at the cut-off price under the OFS mechanism

Meeting is on 23 may at 2 pm to postpone the strike call given by clerk union

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