State-owned lender Allahabad Bank has successfully raised Basel III complaint Tier 2 bonds aggregating ` 500 crore through private placement, according to a filing to the bourses.
The filing was made on Friday.
PTI adds:
However, the bank did not elaborate where the proceeds would be used.
In November, the bank had said the bonds worth Rs 500 crore would be raised in 2014-15 either in one or more tranches.
Allahabad Bank scrips closed 1.77 per cent lower at Rs 127.75 per share on the BSE today.