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


09/02/2014 14:04 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. We require about Rs 800 crore..,” Andhra Bank Chairman and Managing Director C V R Rajendran said here.

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

“Right now the Government share holding is 60 per cent. Last year we got about Rs 200 crore. Initially we will approach the Government else we may go for QIP. We have found that going for an FPO is costly at this stage..,” he said.

For more on this Click Here

The Hindu Business Line
Global News
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
QNBK 146 148,595
DARTAKAFUL 1.22 13,774,341
ALMARAI 72.07 118,921
SABIC 96.32 8,260,066
RIBL 10.28 867,413
NBAD 11.2 5,696,134
EEC 20.69 1,320,869
Recent News

Dubai Investments increase cash dividend to 12%
Dubai Investments said on Tuesday the shareholders unanimously agreed to increase the cash dividend to 12 per cent from the earlier 10 per cent including a 5 per cent bonus shares. “Some shareholder

GFH distributes quarterly dividends to investors
GFH Capital said on Tuesday the recent distribution of quarterly dividends for a number of its investments and funds in line with its continued progressive dividend policy.

These include dis

Shuaa eyes acquisition after swinging to net profit in first quarter
Shuaa Capital swung back into net profits its chairman said on Tuesday, after registering losses in the past seven quarters. They also announced they are planning to buy a listed financial services f

Nasdaq breaks historic 6,000 barrier
Stock markets mostly rose Tuesday following the previous session’s record runs triggered by the first-round result of France’s presidential election.

Gains were strongest in the US, where t

Tourism key for growth and diversification in MENA
Tourism can be a key driver of the growth and economic diversification for the Middle East and North Africa region, concluded the 2017 Ministerial Forum organised by the World Tourism Organisation (U

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?