<p>The capital infusion is aimed at shoring up equity base of the bank to enhance lending to productive sectors of the economy.<br /><br />The shareholders of the bank had earlier approved issuance of over 7.45 crore shares at a price of Rs 157.28 a share on preferential basis.<br /><br />"The government has infused capital aggregating to Rs 1,172.99 crore towards issuance and allotment of equity shares on preferential shares," Andhra Bank said in a filing to the Bombay Stock Exchange.<br /><br />The capital infusion would help enhance lending capacity of the state-owned banks to meet the credit requirement of the economy in order to maintain and accelerate the economic growth momentum.</p>
<p>The capital infusion is aimed at shoring up equity base of the bank to enhance lending to productive sectors of the economy.<br /><br />The shareholders of the bank had earlier approved issuance of over 7.45 crore shares at a price of Rs 157.28 a share on preferential basis.<br /><br />"The government has infused capital aggregating to Rs 1,172.99 crore towards issuance and allotment of equity shares on preferential shares," Andhra Bank said in a filing to the Bombay Stock Exchange.<br /><br />The capital infusion would help enhance lending capacity of the state-owned banks to meet the credit requirement of the economy in order to maintain and accelerate the economic growth momentum.</p>