Andhra Bank today decided to go for a public issue to meet its capital requirements. The board of directors of the bank, at its meeting held here today, has accorded clearance for the bank making public issue (follow-on offer) of equity shares subject to necessary approvals. | |
| The bank has informed the Bombay Stock Exchange (BSE) of the 'in-principle clearance' received from its board of directors to this effect. |
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| It needs to get statutory approvals including the approval of the Government of India, RBI and shareholders' approval at the extraordinary general meeting. |
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| The terms of the issue including size and the price shall be determined in consultation with the merchant bankers, the bank informed. |
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