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Govt stake in Allahabad Bank rises by 7.6%, shareholding goes up to 79.41%

The preferential allotment of shares is against infusion of Rs 17.90 billion by the government in the bank

Press Trust of India  |  Mumbai 

A closed branch of Allahabad Bank during bank employees' two-day nationwide strike for wage revision, in New Delhi on Wednesday, May 30, 2018.

Government's stake in the has increased by 7.6 per cent post allotment of equity shares on preferential basis, the said Monday.

The preferential allotment of shares is against infusion of Rs 17.90 billion by the government in the

Post allotment of the equity shares, the shareholding of the government has gone up to 79.41 per cent in the

Bank is one of the of and majority stake is held by the (of India).

Shares of the bank closed at Rs 37.60 apiece on BSE, up 3.72 per cent.

First Published: Mon, October 15 2018. 21:20 IST
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