ANDHRA BANK - Outcome of Board Meeting

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27 Mar 2017
Further to our letter no.666/25/P.29/537 dated 22.03.2017, we wish to inform that the Board of Directors of the Bank, in the meeting held on Monday, March 27,2017 has approved to consider the following proposal(s); a. raising of Equity Capital of the Bank by way of preferential allotment to Government of India (GOI) to the tune of Rs. 1100 Crores (including premium), subject to necessary approvals/permissions, b. raising of Equity Capital of the Bank through Qualified Institutional Placement, Follow-on Public offer, etc. at an appropriate time. Board of Directors authourised Managing Director and Chief Executive Officer to fix the date of Extra Ordinary General Meeting of Shareholders to consider the proposal relating to raising of equity capital. The meeting of Board of Directors commenced to 15:30 hours and concluded at 18.00 hours.
View all announcements for ANDHRA BANK	Source: BSE India

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