Allahabad Bank to consider QIP on Nov 22, 2013

A meeting of the Board of Directors of Allahabad Bank will be held on November 22, 2013, to consider issue of equity shares on preferential basis to Government of India (President of India) against the proposed capital infusion plans of Government of India and/or other capital plans including raising of Tier I capital through issue of equity shares by way of Qualified Institutions Placement (QIP) basis subject to necessary permission/approval from Government of India/Reserve Bank of India.

Shares of Allahabad Bank was last trading in BSE at Rs.86.85, down by Rs.1.35 or 1.53%. The stock hit an intraday high of Rs.89.65 and low of Rs.86.10.

The total traded quantity was 2.20 lakhs as compared to 2 week average of 3.90 lakhs.

Source : Equity Bulls

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