Union Bank of India invests in Star Union Dai-Ichi Life Insurance Company Ltd

Union Bank of India has subscribed 2,00,80,000 Equity Shares of Star Union Dai-Ichi Life Insurance Company Ltd. (SUD life) offered under rights issue by the Company at Rs 25/- per share aggregating to Rs 50.20 Crores.

Union Bank of India has a stake of 25.10% in SUD Life. Bank has subscribed to the Rights Issue offered by SUD Life i.e. 200,80,000 equity shares @ Rs.25 per share of Rs.10 each aggregating Rs.50.20 cr. The subscription is in proportion to our holding level.

Star Union Dai-ichi Life Insurance Company Limited, a Company incorporated under the Companies Act, 1956 and validly existing under the Companies Act, 2013 and having its registered and Corporate Office at 11th Floor, Vishwaroop IT Park, Plot No. 34, 35 & 38, Sector 30A of IIP, Vashi, Navi Mumbai - 400703 and bearing corporate identification number U66010MH2007PLC174472. The company is a Life Insurance Company jointly promoted by Union Bank of India (25.10%), Bank of India (28.96%) and Daiichi Life Holdings Inc. Japan (45.94%).

Shares of Union Bank of India was last trading in BSE at Rs. 83.75 as compared to the previous close of Rs. 85.10. The total number of shares traded during the day was 2081332 in over 8102 trades.

The stock hit an intraday high of Rs. 86.00 and intraday low of 82.60. The net turnover during the day was Rs. 174270120.00.

Source : Equity Bulls

Keywords

UnionBankofIndia INE692A01016 Investment StarUnionDaiIchiLifeInsuranceCompany