Board of Allahabad Bank approves raising equity capital up to Rs 3054 crore

At meeting held on 06 December 2018

The Board of Allahabad Bank at its meeting held on 06 December 2018 has approved the following -

1. Raising equity capital of the Bank by an amount aggregating upto Rs 3054.00 crore (including premium) through Preferential Issue of equity shares to the Government of India (President of India) against their capital infusion of Rs 3054.00 crore in the Bank, subject to requisite approval of shareholders and other statutory/ regulatory authorities.

2. Convening an Extraordinary General Meeting of shareholders of the Bank on 10 January, 2019.

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