Allahabad Bank is planning to raise up to Rs 4,000 crore equity capital through various means, including rights issue or FPO. A meeting of Share Issue and Allotment Committee (SIAC) of board of directors of the bank is scheduled to be held July 31, 2019, to consider the modes/modalities of raising the equity capital of the bank, aggregating up to Rs 4,000 crore already approved by the board.
Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.
