New Delhi, May 22 -- The government's Offer for Sale in Central Bank of India saw robust demand from investors, with the issue subscribed 2.35 times on the opening day, Secretary, Department of Investment and Public Asset Management (DIPAM) said on Friday.

"Offer for Sale in Central Bank of India received enthusiastic response from investors and was over subscribed 2.35 times on the first day," Secretary, Department of Investment and Public Asset Management (DIPAM) posted on X on Friday, signalling strong institutional demand for the PSU lender's stake sale.

Following the robust response, the government has decided to exercise the entire green shoe option, which means that it will sell an additional 4% stake in the bank over and above t...