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Allahabad Bank raises Rs 500 crore on private placement basis

30 Dec 2017 Evaluate

Allahabad Bank has successfully raised Additional Tier 1 (AT 1) capital of Bank through Private Placement of AT 1 Perpetual Bonds Series IV aggregating to Rs 500 crore at an annual coupon of 10.00% 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.


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
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