MoneyWorks4Me

Allahabad Bank raises Rs 100 crore through private placement

26 Sep 2017 Evaluate

Allahabad Bank has raised Rs 100 crore Basel III compliant additional Tier-I capital through private placement of bonds. The bondholders will get a coupon rate of 11.85 percent per annum.

The bank’s board gave its approval to raise up to Rs 2,000 crore in tranches during 2017-18 that will go into its additional Tier-I capital.

Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.


Peers
Company Name CMP
State Bank Of India 961.70
PNB 116.10
Bank Of Baroda 230.00
Canara Bank 118.60
Union Bank Of India 172.00
View more..