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New Delhi, Feb. 14 Centurion Bank of Punjab said on Thursday that till date its cumulative investments in initial public offerings (IPOs), including the Reliance Power IPO, have delivered profits.

“We invest in IPOs as part of our normal treasury operations and we also invested in the Reliance Power IPO. Till date our cumulative investments in IPOs, including this IPO, have delivered profits,” Ms Tarini Vaidya, Country Treasurer, CBoP, said in a statement on Thursday.

This statement comes in the wake of a media grapevine that CBoP is believed to have incurred a loss of Rs 20-26 crore on the sale of shares allotted to the bank in the Reliance Power IPO. Meanwhile, a spokesperson for the bank said that CBoP was confident of delivering results in line with market expectations.

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