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Allahabad Bank gets nod to raise Rs 6,896 crore through Preferential Issue

28 Feb 2019 Evaluate

Allahabad Bank has received approval for raising equity capital for an amount aggregating upto Rs 6,896 crore (including premium) through Preferential Issue of equity shares to the Government of India against their capital infusion of Rs 6,896 crore in the Bank. The Board of Directors of the Bank at its meeting held on February 27, 2019 has 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 985.60
PNB 117.70
Bank Of Baroda 234.40
Canara Bank 124.70
Union Bank Of India 177.90
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