The company said that the issue is subject to market conditions and necessary approvals.
Central Bank of India is a public sector bank. The Government of India holds 93.08% stake in the bank.
The state-run lender's net profit rose 27.26% to Rs 318.17 crore on 8.24% increase in total income to Rs 7,064.96 crore in Q2 FY23 over Q2 FY22.