OREANDA-NEWS. April 4, 2011. ALLAHABAD BANK, a Premier Nationalised Bank of the country, allotted 2,95,15,418 Equity Shares to the Central Government at Rs.227/- per share on Preferential Allotment basis on 31.03.2011 in terms of the decision of the Central Govt. to infuse Capital of Rs.670.00 crore (approx) and the approval of the Shareholders by passing Special Resolution in the Extraordinary General Meeting held in Kolkata on 23rd March, 2011.

With the allotment of these Shares, the holding of the Government of India in the Bank stands increased from existing 55.23% to 58%.