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16-Oct2018

Allahabad Bank gains on raising Rs 1,790 crore from GoI via preferential issue

Allahabad Bank is currently trading at Rs. 37.85, up by 0.25 points or 0.66% from its previous closing of Rs. 37.60 on the BSE.

The scrip opened at Rs. 37.90 and has touched a high and low of Rs. 38.30 and Rs. 37.85 respectively. So far 47826 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 89.15 on 26-Oct-2017 and a 52 week low of Rs. 33.25 on 09-Oct-2018.

Last one week high and low of the scrip stood at Rs. 38.30 and Rs. 33.60 respectively. The current market cap of the company is Rs. 4018.70 crore.

The promoters holding in the company stood at 71.81%, while Institutions and Non-Institutions held 15.37% and 12.81% respectively.

Allahabad Bank has raised around Rs 1,790 crore from the Government of India (GoI). The Share Issue and Allotment Committee of the Board has approved for allotment of 38,92,15,046 new equity shares of face value of  Rs 10.00 of the Bank on preferential basis to the Government of India (President of India) at an Issue Price of Rs 45.99 per equity share including a premium of Rs 35.99 per equity share aggregating to around Rs 1,790 crore.

It is further intimated that all the aforesaid new equity shares bearing distinctive numbers from 1054777665 to 1443992710, allotted on date to the Government of India (President of India) are/will be under lock-in for a period of three years from the date of grant of Trading Approval from the Stock Exchanges namely NSE and BSE where the equity shares of the Bank are listed.

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


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