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Friday, July 10, 2015

Andhra Bank to go for QIP/FPO

Andhra Bank’s scrip gained 2.45 per cent on the Bombay Stock Exchange (BSE) on Thursday on its plans to raise capital through Qualified Institutional Placement (QIP) or Follow on Public Offer (FPO).

The shareholders of the bank had approved a proposal for QIP or FPO at its Annual General Meeting held here, the BSE was informed today.

Andhra Bank’s scrip ended at Rs. 71 after opening for trade at Rs. 69.30. The total traded quantity was 4.10 lakh shares and two-week average quantity is 2.66 lakh.

Source : Thehindubusinessline
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