Allahabad Bank has raised Rs 2152 crore through the allotment of 80,57,63,473 new equity shares of face value of Rs10.00 each to the Government of India (President of India) for cash at an issue price of Rs 26.72 per equity share including a premium of Rs 16.72, against their capital infusion of Rs 2153.00 crore in the bank for FY 2019-20.
Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.