Andhra Bank said June 24 that its board has approved a proposal to raise equity capital of Rs 2,000 crore through qualified institutional placement or follow-on public offer or sale of non-core assets or preferential allotment.
"The board of directors of the bank at its meeting held on June 24, 2019, approved the proposal to raise the equity capital amounting to Rs 2,000 crore (including premium) by way of qualified institutional placement/ follow-on public offer/ sale of non-core assets/ preferential allotment/ any other approved means during FY20 subject to market conditions and necessary approvals," a BSE filing said.
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