United Bank of India approves preferential allotment up to Rs. 1500 crores

The Board of Directors of United Bank of India at its meeting held on December 18, 2015, has approved the proposal to raise Equity Capital by Preferential Allotment up to Rs. 1500 crores including premium to the President of India on behalf of the Central Government, or Life Insurance Corporation of India or funds thereof or such other investors as may be decided provided that the Central Government holding at any time shall not fall below 51% of the total equity capital of the Bank and subject to all necessary approvals and clearances being in place.

Shares of UNITED BANK OF INDIA was last trading in BSE at Rs.22.6 as compared to the previous close of Rs. 22.1. The total number of shares traded during the day was 64214 in over 310 trades.

The stock hit an intraday high of Rs. 22.9 and intraday low of 22.4. The net turnover during the day was Rs. 1448955.

Source : Equity Bulls

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