The Hindu Business Line : Allahabad Bank files draft with SEBI

ALLAHABAD Bank filed on Wednesday a draft red herring prospectus with the Securities and Exchange Board of India as part of its exercise to enter the capital market with an offer of public issue of equities, according to a press release issued by the bank. This will be itssecond public issue.

The bank proposes to issue 10 crore equity shares of Rs 10 each for cash at a premium to be decided through the book-building process.

The issue is to be made through a 100 per cent book-built process. Of the total offer, the bank has reserved 10 million equity shares for its employees and another 10 million for its existing retail shareholders.

The book-running lead managers to the issue are SBI Capital Markets, DSP Merrill Lynch, ICICI Securities Ltd, JM Morgan Stanley and Kotak Mahindra Capital.

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Allahabad Bank files draft with SEBI