Allahabad Bank Board approves raising of capital through QIP

The Board of Directors of Allahabad Bank at its meeting held on December 22, 2014, have discussed and approved in principle the raising of capital of the Bank through preferential/QIP issue in compliance with the applicable laws, rules and regulations, Govt. of India Guidelines and in such a manner that the equity shareholding of the Govt. of India shall not go below 52%.

Shares of ALLAHABAD BANK was last trading in BSE at Rs.126 as compared to the previous close of Rs. 123.55. The total number of shares traded during the day was 222996 in over 3910 trades.

The stock hit an intraday high of Rs. 126.5 and intraday low of 122.25. The net turnover during the day was Rs. 27698305.

Source : Equity Bulls

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