Union Bank of India board approves fund raising plan of Rs. 8,100 crore

The Board of Directors in its meeting held on May 26, 2022, considered & approved the Capital Plan of Union Bank of India to raise capital funds by an amount not exceeding Rs.8,100 crore, subject to:

- raising of equity capital not exceeding Rs. 3,800 crore, within the overall limit of Rs. 8,100 crore, through Public Issue (i.e. Follow-on Public Offer) and/or Rights Issue and/or Private Placements, including Qualified Institutions Placements and/or Preferential Allotment to the Government of lndia and/or other institutions and/or through any other mode(s); and/or,

- raising of AT 1 and/or Tier 2 bonds not exceeding Rs. 4,300 crore within the overall Limit of Rs.8,100 crore (including Greenlforeign currency denominated AT1 /Tier 2 Bonds).

and with the necessary approvals including the approval of shareholders, if any.

Shares of Union Bank of India was last trading in BSE at Rs. 35.55 as compared to the previous close of Rs. 34.90. The total number of shares traded during the day was 1170456 in over 3021 trades.

The stock hit an intraday high of Rs. 35.80 and intraday low of 34.50. The net turnover during the day was Rs. 41206880.00.

Source : Equity Bulls

Keywords

UnionBankofIndia INE692A01016 FundRaising CapitalPlan INR8100crore