Allahabad Bank has raised Rs 3,054.00 crore through issuance and allotment of 65,28,43,095 new equity shares on Preferential basis of face value of Rs 10 each to the Government of India for cash at an issue price of Rs 46.78 per equity share including a premium of Rs 36.78 per equity share.
Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.