Andhra Bank proposes to raise Rs 800 cr in FY'15: CMD 


09/02/2014 09:52 AST

State-owned Andhra Bank has proposed to raise Rs 800 crore during the next financial year to fund its growth plans, a top official said today.

"We are planning to raise (funds) through QIP (Qualified Institutional Placements) or from Government of India. We require about Rs 800 crore..," Andhra Bank Chairman and Managing Director C VR Rajendran told reporters here.

It would be decided by third quarter of 2014-15 financial year, he added.

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