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Allahabad Bank planning to raise Rs 3054 crore

Allahabad Bank planning to raise Rs 3054 crore

Allahabad Bank is planning to raise equity capital of the Bank by an amount aggregating upto Rs 3054 crore through preferential allotment of new equity shares of the Bank to the Government of India against their capital infusion. The Board of Directors of the Bank at its meeting will be held on December 06, 2018 to consider the same.

Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.