New Delhi, May 22 -- The government's offer for sale (OFS) in Central Bank of India was subscribed 2.35 times on the first day, reflecting strong demand from institutional investors. The response prompted the government to exercise the entire green shoe option.

The offer for sale received "enthusiastic response from investors," Arunish Chawla, secretary in the department of investment and public asset management (Dipam), said on X on Friday. "The government has decided to exercise the entire green shoe option. Retail investors and employees get to bid on Monday 25th May 2026."

A green shoe option here refers to a provision that allows the seller to issue or sell additional shares if investor demand is higher than expected.

The strong r...