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Allahabad Bank fixes offer price at Rs. 82
NEW DELHI:
: With its public issue getting oversubscribed by over nine times, Allahabad Bank on Thursday fixed the offer price at the upper band of Rs. 82 per share to mop up Rs. 820 crores from the public offer mainly for shoring up its capital base to meet increased business requirements and meet the globally stringent Basel II capital norms. With this offer, Government's holding in the bank would come down to 55.2 per cent from 71.2 per cent. The shares will be listed on April 16 in major bourses.
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