The city headquartered Allahabad Bank shareholders would find nearly 25 per cent erosion in holding value, based on current stock price post amalgamation
with the Indian Bank slated to be effective from April 1. Allahabad Bank's name and its board will cease to exist
Based on the closing price of Thursday, holding stock value of Rs 7,600 will become Rs
Indian Bank closed at Rs 49.40 a share while Allahabad
Chunduru said she does not foresee any hurdle in amalgamation and it will happen as per schedule. "The amalgamated Indian Bank will be operational from April 1 and the combined branches would be about 6,000 without much overlap of branches. The amalgamated bank headquarters
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