State-owned Allahabad Bank has raised Rs459.40 crore by issuing shares to Life Insurance Corporation ( LIC) on preferential basis.
The bank has allotted 2.3 crore shares of Rs10 each at a premium of Rs182.94 amounting to Rs459.40 crore on preferential allotment basis to LIC and its various scheme, Allahabad Bank said.
The Kolkata-based bank got a capital infusion of Rs670 crore from the government in 2010-11.
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The bank has allotted 2.3 crore shares of Rs10 each at a premium of Rs182.94 amounting to Rs459.40 crore on preferential allotment basis to LIC and its various scheme, Allahabad Bank said.
The Kolkata-based bank got a capital infusion of Rs670 crore from the government in 2010-11.
....more info