Saraf and Partners advised Systematix Corporate Services Ltd, Batlivala & Karani Securities India Private Limited, Emkay Global Financial Services Ltd, IDBI Capital Markets & Securities Ltd. and Motilal Oswal Investment Advisors Limited in relation to the qualified institutional placement (“QIP”) by Central Bank of India (“Bank”).

Bank filed a placement document on March 27, 2025, for an issue of 37,04,61,842 equity shares to qualified institutional buyers aggregating up to ₹1500 crore. The proceeds of the QIP are proposed to be used towards augmentation of Bank’s Tier-I capital base to meet Bank’s future capital requirements and to support growth plans and to enhance the business of the Bank.

Our transaction team was led by Partner, Mathew Thomas.