Andhra Bank, the public sector lender, witnessed a rise in share price on Tuesday after the bank, announced that the bank is proposing to come out with 8.65% - 10 years (call option after 5 years) unsecured non-convertible redeemable basel- III compliant tier-2 debt bonds series-C in the nature of debentures of Rs 10 lakh each for cash at par aggregating to Rs 10 billion.
The issue shall be opened for subscription on June 22, 2016 and will close on June 27, 2016 with the deemed date of allotment shall be June 27, 2016.
Shares of Andhra Bank are trading at Rs 56.00, up Rs 0.7, or 1.27% at the Bombay Stock Exchange (BSE) on Tuesday at 10:13 a.m. The scrip has touched an intra-day high of Rs 56.10 and low of Rs 55.25. The total volume of shares traded at the BSE is 99,117.
Total volume of shares traded on the bourses today was lower by 66.21% to 1,002,986 compared with 22-day average volume of 2,968,684.