Allahabad Bank gets shareholders' nod for pref. issue

Our Bureau Kolkata | Updated on January 22, 2018 Published on October 01, 2015

Allahabad Bank has obtained shareholders' approval to issue preferential equity shares to the government to raise Rs 283 crore. Post this the government’s stake in the Kolkata-based lender will rise to 62.73 per cent from 60.83 per cent.

The bank would make a preferential issue of 2.91 lakh equity shares of face value Rs 10 each and a premium of Rs 86.98 per share, the bank had said in a statement to the bourses yesterday.

Published on October 01, 2015
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