Andhra Bank has issued and allotted 11,10,49,416 equity shares of Rs 10 each at Rs 18.01, per equity shares (including a premium of Rs 08.01 per equity share) to Government of India on preferential basis. After the said allotment, Government of India's holding has been increased from 87.81% to 88.25% equity shares.
Earlier, the Board of Directors of the Bank had approved the resolution for raising of equity capital of the Bank by issuance of equity shares by way of preferential allotment to Government of India to an extent of Rs 200 crore.
Andhra Bank offers a wide range of services such as Retail banking, Agriculture, MSME, Corporate, NRI services and Personal banking services etc.
