Breaking News

You are here » Indian-Commodity  :  Top News  :  Allahabad Bank issues 5.65 crore shares on preferential basis to GoI

08-Aug2017

Allahabad Bank issues 5.65 crore shares on preferential basis to GoI

Allahabad Bank has issued and allotted 5,65,24,678 new equity shares of face value of Rs 10 of the bank preferential basis  to the Government of India (GoI) for cash at an issue price of Rs 73.95 per equity share. The total value of shares allotted to the government stands over Rs 417.99 crore. The issue price includes a premium of Rs 63.95 per equity share.

The bank has recently reviewed one year Marginal Cost of Funds based Lending Rate (MCLR) to 8.50% per annum (p.a.) with effect from July 10, 2017. The Bank had also reviewed the overnight, 1 month, 3 month and 6 month MCLR to 8.00% p.a., 8.10% p.a., 8.30% p.a. and 8.40% p.a. respectively.

Moreover, the Bank had introduced 2 years and 3 years MCLR with 8.70% p.a. and 8.75% p.a. respectively.



Related News

View all news

Crude oil futures end lower on Monday

Crude oil futures ended lower on Monday as steep declines in the US stock market fed an aversion to so-called riskier assets, which include oil. Meanwhile, the US-China trade dispute escalated as China......

Gold futures trade flat on Monday

Gold futures was trading flat on Monday as growing uncertainty over whether the United States and China will be able to reach a deal to end their escalating trade war fueled safe-haven demand for the precious......

Jeera futures trade higher on rising demand

Jeera futures traded higher on NCDEX on the back of rising physical and export demand at the spot market. However, higher availability of crop this season, capped some gains.The contract for May delivery......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......