Public sector Allahabad Bank plans to raise up to Rs 1,900 crore through various means, including rights issue, public issue or a QIP.
The decision was taken at the bank's annual general meeting held today.
Allahadbad Bank said it has been decided to allot equity shares, in India or abroad, aggregating to not more than Rs 1,900 crore.
The issue can be either by way of qualified institutions placements (QIPs), public issue, rights issue or a combination thereof with or without over-allotment, the lender said in a regulatory filing.
Stock of Allahabad Bank closed 7.23 per cent higher at Rs 42.25 on BSE.
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