New Delhi, May 25 -- Retail investors can bid for the Offer for Sale (OFS) of Central Bank of India on Monday, 25 May, following a strong institutional investor response on Friday. The institutional portion of the OFS was subscribed to more than 2.3 times, with bids received for over 76.86 crore shares against 32.58 crore shares on offer. At an indicative price of Rs.31.01 per share, non-retail investors placed bids worth more than Rs.2,380 crore.

The government is selling a 4% stake in the lender, with a greenshoe option to divest an additional 4%, at a floor price of Rs.31 per share. If the entire 8% stake is subscribed, the Centre is expected to raise around Rs.2,456 crore.

The stake sale is aimed at improving public shareholding in ...