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Allahabad Bank to allot shares to govt for Rs 2153 crore capital infusion

24 Jan 2020 Evaluate

Allahabad Bank has received an approval for raising equity capital of the bank by an amount aggregating up to Rs 2,153 crore (including premium) through Preferential Issue of equity shares to the Government of India against their capital infusion of Rs 2,153 crore. The Board of Directors of the Bank at their meeting held on January 24, 2020, 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 985.20
PNB 117.60
Bank Of Baroda 234.80
Canara Bank 124.85
Union Bank Of India 177.65
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