Allahabad Bank raises Rs 1400 crores through Debt Capital Instruments (Tier I & Tier II Bonds)

Allahabad Bank has announced that the Board of Directors of the Bank has approved raising of debt capital instruments in the form of Innovative Perpetual Debt Instrument (Tier I Capital), Debt Capital Instruments (Upper Tier II Bonds) and Subordinated Debts (Tier II Capital) aggregating to Rs. 1400.00 crore during the current financial year 2010-11.

The stock was trading at Rs.204.35, up by Rs.3.35 or 1.67%. The stock hit an intraday high of Rs.205.20 and low of Rs.201.

The total traded quantity was 0.97 lakhs compared to 2 week average of 1.50 lakhs.

Source : Equity Bulls

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