Allahabad Bank has successfully raised Additional Tier 1 (AT 1) Capital of Bank through Private Placement of AT 1 Perpetual Bonds Series III aggregating to Rs 600.00 crore at an annual coupon of 9.34% p.a., discovered through Electronic Bidding Mechanism of NSE (NSE EBP).
Earlier, the bank had received an approval for raising Additional Tier 1 capital of the bank aggregating up to Rs 2,000 crore through Private Placement in one or more tranches during FY 2017-18.
Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.
