MoneyWorks4Me

Andhra Bank to raise Rs 1000 crore through debentures issue

20 Jun 2016 Evaluate

Andhra Bank has decided to come out with 8.65% - 10 years (call option after 5 years) Unsecured Non-convertible Redeemable Basel- III Compliant Tier-2 Debt Bonds Series-C, in the nature of Debentures of Rs 10 lakh each for cash at par aggregating to Rs 1000 crore. The issue shall be opened for subscription on June 22, 2016 and will close on June 27, 2016 with the deemed date of allotment shall be June 27, 2016.

The bank has posted a fall of 72.14% in its net profit at Rs 51.60 crore for the quarter ended March 31, 2016 as compared to Rs 185.24 crore for the same quarter in the previous year. However, total income of the bank has increased by 9.05% at Rs 5124.37 crore for quarter under review as compared to Rs 4699.16 crore for the quarter ended March 31, 2015.

Peers
Company Name CMP
State Bank Of India 963.90
PNB 122.25
Bank Of Baroda 237.50
Canara Bank 120.05
Union Bank Of India 181.05
View more..