Allahabad Bank has received approval for raising equity capital of the Bank by an amount aggregating upto Rs 4,000 crore including premium by way of issue, offer and allotment of new equity shares of the Bank either by way of Public Issue, Rights Issue, Qualified Institutions Placements (QIPs) or in combination thereof in one or more tranches. The Board of Directors of the bank at its meeting held on March 26, 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.
