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Allahabad Bank allots shares worth Rs 6896 crore to govt

Allahabad Bank allots shares worth Rs 6896 crore to govt

Allahabad Bank has issued and allotted 162,48,82,186 new equity shares of face value of Rs 10 of the Bank on preferential basis to the Government of India (President of India) at an Issue Price of Rs 42.44 per equity share including a premium of Rs 32.44 per equity share aggregating to Rs 6895,99,99,973.84 against their capital infusion of Rs 6896.00 crore in the Bank for FY 2018-19.

Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.



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