Government stake in Andhra Bank goes up by over 2%

Government's shareholding in public lender Andhra Bank has gone up by 2.14 per cent after the latest round of capital infusion.
According to a filing with stock exchanges today, the city-headquartered lender said it has allotted 3,00,34,539 equity shares on preferential basis to the government.
The government's shareholding in the bank now stood at 60.14 per cent from the earlier 58 per cent, the filing said.
In an earlier filing, the bank said the Extraordinary General Meeting of the shareholders held on December 19 passed a special resolution to allot shares at Rs 66.59 apiece (including a premium of Rs 56.59 per share) in return for Rs 200-crore additional capital infusion.

Shares of Andhra Bank settled at Rs 63, up 0.72 per cent over the previous close, on BSE whose benchmark Sensex gained 0.20 per cent to 21,074.59 today.
The government infused around Rs 200 crore on December 20 towards issuance and allotment of equity shares on preferential basis, Andhra Bank said on Monday.