Allahabad Bank to Raise Up to Rs 1,900 Cr
State-owned Allahabad Bank will raise up to Rs 1,900 crore through issuance of equity shares via different means.
New Delhi, Jun 27 (PTI) State-owned Allahabad Bank will raise up to Rs 1,900 crore through issuance of equity shares via different means.
The decision was taken at the annual general meeting of shareholders held today.
It will raise equity capital through qualified institutional placement, follow-on public offer (FPO), rights issue or in combination thereof aggregating up to Rs 1,900 crore, the bank said in a regulatory filing.
Stock of Allahabad Bank closed 0.60 per cent down at Rs 41.20 apiece on the BSE today.
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