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Published on 25/06/2019 11:56:43 AM | Source: Dion Global Solutions Ltd

Andhra Bank approves raising of Equity capital amounting to Rs. 2000 crore

Posted in Industry News| #Banking Sector #Andhra Bank #Industry

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Andhra Bank said in a filing to BSE that the Board of Directors of the Bank at its meeting held on 24.06.2019 approved the proposal to raise the Equity capital amounting to Rs. 2000 crore (including premium) by way of Qualified lnstitutional Placement (OlP) / Follow-on Public Offer (FPO) I Sale of non-core assets/referential Allotment / any other approved means during FY 2019-20 subject to market conditions and necessary approvals.