Andhra Bank receives fresh capital infusion of Rs200cr from GoI

The bank has received capital infusion of Rs200cr towards the contribution of the government in the preferential allotment of equity share of the bank during the FY2019-20, as government’s investment.

Dec 30, 2019 10:12 IST India Infoline News Service

Andhra Bank
Andhra Bank said in the press note that it has received capital infusion of Rs200cr towards the contribution of the government in the preferential allotment of equity share of the bank during the FY2019-20, as government’s investment.

“We wish to inform that on December 30, the bank has received a communication dated on 26, 2019, from the Government of India, Ministry of Finance, Department of Financial Services regarding capital infusion of Rs200cr towards contribution of the Central Government in the preferential allotment of equity share of the bank during the FY2019-20, as government’s investment,” the bank said in the filing.

Stock view:
Andhra Bank ended at Rs17.15, down by Rs0.1 or 0.58% from its previous closing of Rs17.25 on the BSE.

The scrip opened at Rs17.30 and has touched a high and low of Rs17.50 and Rs17.10 respectively.

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