SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Allahabad Bank raises Rs 1,790 crore from GoI via preferential issue

16 Oct 2018 Evaluate

Allahabad Bank has raised around Rs 1,790 crore from the Government of India (GoI). The Share Issue and Allotment Committee of the Board has approved for allotment of 38,92,15,046 new equity shares of face value of  Rs 10.00 of the Bank on preferential basis to the Government of India (President of India) at an Issue Price of Rs 45.99 per equity share including a premium of Rs 35.99 per equity share aggregating to around Rs 1,790 crore.

It is further intimated that all the aforesaid new equity shares bearing distinctive numbers from 1054777665 to 1443992710, allotted on date to the Government of India (President of India) are/will be under lock-in for a period of three years from the date of grant of Trading Approval from the Stock Exchanges namely NSE and BSE where the equity shares of the Bank are listed. 

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


Allaha.Bank-Amalgama Share Price

15.15 0.00 (0.00%)
19-Mar-2020 18:01 View Price Chart
Peers
Company Name CMP
SBI 973.50
PNB 104.70
Canara Bank 129.35
Bank Of Baroda 266.00
Union Bank Of India 163.80
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×