Govt infuses Rs200 cr in Andhra Bank

Public sector lender Andhra Bank has received nearly Rs 200 crore capital infusion from the government and in return shareholders of the bank have agreed to allot over three crore shares on preferential basis.

The bank,in a filing with BSE,on Monday said the recently held extraordinary general meeting of the shareholders passed a special resolution to allot shares at Rs 66.59 apiece including a premium of Rs 56.59 per share. 8230;the government has infused the capital of Rs 199,99,99,952.01 on December 20,2013 towards issuance and allotment of equity shares on preferential basis, Andhra Bank said.

The government holds 58 per cent,while FIIs,DIIs and others hold 11.19 per cent,11.78 per cent and 19.03 per cent as on September 30.