Allahabad Bank issues 29.18 mn shares to GoI
Source: IRIS | 01 Oct, 2015, 09.28AM
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Rating: NAN / 5 stars. |
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Allahabad Bank, the public sector lender, has issued and allotted 29.18 million equity shares to the Government of India (GOI), of face value of Rs 10 each for cash at an issue price of Rs 96.98 a equity share including a premium of Rs. 86.98 a equity share on preferential basis.
All the aforesaid new equity shares issued and allotted to GOI will be under lock-in for a period of three years from the date of trading approval from all the stock exchanges i.e. NSE & BSE, the bank said.
Shares of the bank gained Rs 0.5, or 0.65%, to trade at Rs 77.30. The total volume of shares traded was 12,094 at the BSE (9.22 a.m., Thursday). Total volume of shares traded on the bourses today was lower by 64.65% to 1,038,982 compared with 22-day average volume of 2,938,887.
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