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

Capital Market 

At held on 06 December 2018

The Board of at its 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 (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 of shareholders of the Bank on 10 January, 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 15:03 IST