Bank merger: 115: 1,000 swap ratio for amalgamation of Indian Bank-Allahabad Bank
In regulatory announcement, Indian Bank said its Board of Directors at a meeting approved the fair equity share exchange ratio of 115 equity shares of Indian Bank for every 1,000 shares of Allahabad Bank which is subject to the statutory and regulatory approvals.
Public sector Indian Bank on late Thursday announced a share swap ratio of 115 equity shares of Rs 10 each of Indian Bank for every 1,000 shares of Rs 10 each of Allahabad Bank, Photo: Reuters