Andhra Bank rose 1.09% to Rs 55.50 at 15:15 IST on BSE after the bank announced that it has raised Rs 1000 crore by way of issue of unsecured non-convertible redeemable Basel-III compliant tier-2 bonds.
The announcement was made during market hours today, 28 June 2016.Meanwhile, the S&P BSE Sensex was up 130.85 points or 0.5% at 26,533.81.
On BSE, so far 2.33 lakh shares were traded in the counter as against average daily volume of 2.19 lakh shares in the past one quarter. The stock hit a high of Rs 55.90 and a low of Rs 54.80 so far during the day. The stock had hit a 52-week high of Rs 81.55 on 18 August 2015. The stock had hit a 52-week low of Rs 41.75 on 12 February 2015. The stock had outperformed the market over the past one month till 27 June 2016, gaining 13.2% compared with 0.94% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 8.18% as against Sensex's 4.2% rise.
The mid-cap bank has equity capital of Rs 681.16 crore. Face value per share is Rs 10.
Andhra Bank announced that it has raised Rs 1000 crore by way of issue of 8.65%, 10 years (call option after 5 years) unsecured non-convertible redeemable Basel - III compliant tier - 2 bonds (Series - C) in the nature of debentures on private placement basis. The issue was opened for subscription from 22 June 2016 and closed on 27 June 2016. The bank received subscriptions of Rs 1000 crore towards the issue. The deemed date of allotment was 27 June 2016.
Andhra Bank's net profit fell 72.1% to Rs 51.60 crore on 9% growth in total income to Rs 5124.37 crore in Q4 March 2016 over Q4 March 2015.
The Government of India (GoI) holds 61.26% stake in Andhra Bank (as per the shareholding pattern as on 31 March 2016).
Powered by Capital Market - Live News