Union Bank of India allots 12,93,24,280 Equity Shares to QIBs

The Committee of Directors for Raising of Capital Funds of Union Bank of India at its meeting held today, i.e. December 14, 2017, approved the Issue and allotment of 12,93,24,280 Equity Shares to QIBs at the issue price of Rs. 154.65 Per Equity Share, aggregating to Rs. 1999,99,99,902 (One Thousand Nine Hundred Ninety Nine Crore Ninety Nine Lakh Ninety Nine Thousand Nine Hundred and Two). Pursuant to the allotment of 12,93,24,280 Equity Shares in the Issue, the paid-up equity share capital of the Bank stands increased to Rs. 8,55,75,35,780 comprising 85,57,53,578 Equity Shares of Rs. 10 each.

The Meeting of the Issue Committee commenced at 4.45 pm and concluded at 5.15 p.m.

Shares of UNION BANK OF INDIA was last trading in BSE at Rs.146.65 as compared to the previous close of Rs. 147.3. The total number of shares traded during the day was 335350 in over 1911 trades.

The stock hit an intraday high of Rs. 148.5 and intraday low of 145. The net turnover during the day was Rs. 49239508.

Source : Equity Bulls

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