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Allahabad Bank gets nod to raise Rs 1,900 crore via various means

28 Jun 2018 Evaluate

Allahabad Bank has received shareholder’s approval to raise funds up to Rs 1,900 crore through issuance of equity shares via different means. The funds will be raised through qualified institutional placement, follow-on public offer (FPO), rights issue or in combination. The annual general meeting of shareholders of the company held on June 27, 2018, approved the same.

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 980.95
PNB 117.50
Bank Of Baroda 235.25
Canara Bank 125.20
Union Bank Of India 178.85
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