Andhra Bank to get Rs. 2019 crore capital infusion

On July 19, 2018, Andhra Bank has received a communication from the Government of India, Ministry of Finance, Dept of Financial Services regarding capital infusion of Rs 2,019 crore towards contribution of the Central Government in the preferential allotment of equity shares (Special Securities/Bonds) of the Bank during the financial year 2018-19 as Government investment.

On July 23, 2018, the Bank has received an amount of Rs 2,019 crore towards contribution of the Central Government in the preferential allotment of equity shares of the Bank. The said amount will remain in Share Application Money till allotment of shares on preferential basis to the Government of India after receipt of all requisite statutory / regulatory approvals including approval of shareholders.

Shares of ANDHRA BANK was last trading in BSE at Rs.32.05 as compared to the previous close of Rs. 31.3. The total number of shares traded during the day was 643710 in over 1195 trades.

The stock hit an intraday high of Rs. 32.15 and intraday low of 30.7. The net turnover during the day was Rs. 20375120.

Source : Equity Bulls

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