United Bank of India approves QIP

The Board of Directors of United Bank of India at its meeting held on January 28, 2016, has considered and approved the proposal to raise equity up to an aggregate amount of Rs. 500 crore in the first tranche and not exceeding Rs. 1000 Crore in one or more tranches during any financial year by Qualified Institutions Placement, Public Issue, Rights issue or such other issue(s) as mentioned in the SEBI circular dated November 30, 2015.

Shares of UNITED BANK OF INDIA was last trading in BSE at Rs.19.2 as compared to the previous close of Rs. 19.2. The total number of shares traded during the day was 14435 in over 115 trades.

The stock hit an intraday high of Rs. 19.55 and intraday low of 19.15. The net turnover during the day was Rs. 278394.

Source : Equity Bulls

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