Allahabad Bank has received approval from its Board of Directors for raising equity capital of the Bank by an amount aggregating upto Rs 2000.00 crore (including premium) through Qualified Institutions Placement (QIP) subject to all other requisite Statutory/ Regulatory approval in this regard, out of the approval already accorded by the Board of Directors and Shareholders in its meeting dated March 26,2019 and June 28,2019 respectively for raising Equity Capital aggregating upto Rs 4000.00 crore (including premium) through Qualified Institutional Placements (QIPs)/FPO /Rights Issue or in combination thereof. The Board of Directors of the Company at its meeting held on July 31, 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.
