Allahabad Bank to raise up to Rs 1,900 crore

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New Delhi | Published: June 27, 2018 10:19:06 PM

State-owned Allahabad Bank will raise up to Rs 1,900 crore through issuance of equity shares via different means.

Allahabad bank, Allahabad Bank shares, annual general meeting, shareholdersStock of Allahabad Bank closed 0.60 per cent down at Rs 41.20 apiece on the BSE today.

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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