Allahabad Bank raises Rs 1,000 crore via bonds

Public sector lender Allahabad Bank has raised Rs 1,000 crore by issuing tier-II bonds on a private placement basis.

"The Bank has successfully raised Basel III compliant tier-II bonds aggregating to Rs 1,000 crore through private placement", Allahabad Bank said in regulatory filing.

The said tier-II bonds are eligible for inclusion in tier -II capital of the bank, it added.

Allahabad Bank shares today closed at Rs 70.95 apiece, up 1.14 per cent on BSE.