United Bank of India to raise Rs. 1000 crores

The Board of Directors of United Bank of India at its meeting held on February 11, 2016, has approved the proposal for raising Additional Tier - 1 capital under BASEL-III norms up to Rs. 1000.00cr. through issuance of Perpetual Debt Instruments in the form of subordinated, non-convertible, non-cumulative, listed, Basel-III compliant Additional Tier1 Bonds in the form of Debenture/ Promissory Notes of the face value of Rs. 10.00 lacs each on private placement basis for inclusion in the Additional Tier1 Capital of the Bank for the purpose of ascertaining the capital adequacy ratios.

Shares of UNITED BANK OF INDIA was last trading in BSE at Rs.17.4 as compared to the previous close of Rs. 17. The total number of shares traded during the day was 93701 in over 538 trades.

The stock hit an intraday high of Rs. 17.55 and intraday low of 16.85. The net turnover during the day was Rs. 1614820.

Source : Equity Bulls

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