AllBank leads ESPS float

2 Feb 2018

Allahabad Bank becomes the first PSB to float ESPS (Employee Stock Purchase Scheme). It has kick started the process of ESPS by offering 5 (Five) Crore Equity Shares of the Bank of face value of Rs. 10 each to its own employees.
The ESPS of the Bank is slated to commence from 31.01.2018 and will remain open for two weeks. This will not only help the Bank enhance its capital base as a part of its growth strategy, but shall also increase the participation and involvement of all sections of employees with a sense of ownership in the Bank as its stakeholders by creating a separate investors’ class for the Bank. (EOIC)