Allahabad Bank gains on raising Rs 300 crore through private placement

Allahabad Bank - (Amalgamated) | Bank - Public | BFSI | BSE: 532480 | NSE: ALBK

20 Mar 2017 Evaluate

Allahabad Bank is currently trading at Rs. 70.80, up by 0.15 points or 0.21% from its previous closing of Rs. 70.65 on the BSE.

The scrip opened at Rs. 70.65 and has touched a high and low of Rs. 71.20 and Rs. 70.65 respectively.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 88.25 on 07-Sep-2016 and a 52 week low of Rs. 49.20 on 26-May-2016.

Last one week high and low of the scrip stood at Rs. 72.10 and Rs. 69.05 respectively. The current market cap of the company is Rs. 5,243.01 crore.

The promoters holding in the company stood at 65.92%, while institutions and non-institutions held 22.43% and 11.65% respectively.

Allahabad Bank has successfully raised Additional Tier 1 (AT1) Capital of Bank through private placement of AT1 perpetual Bonds aggregating up to Rs 300.00 crore (including exercise of green shoe option of Rs 100.00 crore) at an annual coupon of 11.15% per annum, discovered through Electronic Bidding Mechanism of NSE (NSE EBP). Earlier, the board of directors at its meeting held on August 12, 2016 had approved to raise Additional Tier I capital of the Bank aggregating to Rs 1,000 crore through Private Placement.

The Bank has reported net profit of Rs 75.26 crore for the quarter ended December 31, 2016 as compared to net loss of Rs 486.14 crore for the same quarter in the previous year. However, total income of the Bank decreased marginally by 0.10% at Rs 5025.13 crore for the quarter under review as compared Rs 5030.19 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 12.51%, as compared to 6.40% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 8.65% in Q3FY17.

Allaha.Bank-Amalgama Share Price

15.15 0.00 (0.00%)

19-Mar-2020 18:01 View Price Chart

Peers

Company Name	CMP
State Bank Of India	1045.15
PNB	107.85
Bank Of Baroda	279.25
Canara Bank	129.00
Union Bank Of India	174.80
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