Union Bank of India allots 42,79,03,111 Equity Shares at Rs. 33.82 per share

The Committee of Directors for Raising Capital Funds of Union Bank of India ("Committee") has, at its meeting held today i.e. May 21, 2021 approved the issue and allotment of 42,79,03,111 Equity Shares of face value Rs.10 each to eligible Qualified Institutional Buyers at the issue price of Rs.33.82 per Equity Share (including a premium of Rs.23.82 per Equity Share) against the floor price of Rs.35.60 per Equity Share after considering 5% Discount, aggregating to Rs.14,47,16,83,214.02 crore, pursuant to the issue in accordance with the SEBI ICDR Regulations.

The issue opened on May 17, 2021 and closed on May 20, 2021 and the same was intimated to you through our letters dated May 17, 2021 and May 20, 2021 respectively.

Pursuant to the allotment of Equity Shares in the issue, the paid-up equity share capital of the Bank stands increased from Rs.6,406.84 crore, comprising of 640,68,44,355 Equity Shares to Rs.6,834.74 crore, comprising of 683,47,47,466 Equity Shares of Face Valve Rs. 10.00.

Shares of UNION BANK OF INDIA was last trading in BSE at Rs.37.45 as compared to the previous close of Rs. 36.85. The total number of shares traded during the day was 690300 in over 2283 trades.

The stock hit an intraday high of Rs. 37.7 and intraday low of 37.05. The net turnover during the day was Rs. 25775786.

Source : Equity Bulls

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