Union Bank of India to raise upto Rs. 10,100 crore

The Board of Directors of Union Bank of India in its meeting held on April 26, 2023, has considered & approved the Capital Plan of the Bank to raise capital by an amount not exceeding ₹ 10,100 crore, subject to:

- Raising of equity capital not exceeding ₹ 8,000 crore in tranche(s) within the overall limit of ₹ 10,100 crore, through Public Issue (i.e. Further Public Offer) and/or Rights Issue and/or Private Placements including Qualified Institutions Placements and/or Preferential Allotment or a combination(s) thereof to any eligible institutions and/or through any other mode(s) subject to the approval of Government of India, other regulatory authorities and approval of Shareholders' of the Bank.

- Raising of Basel III compliant Additional Tier 1 (AT 1) Bonds and/or Tier 2 bonds (including foreign currency denominated AT1/Tier 2 Bonds) not exceeding ₹ 2,100 crore within the overall limit of ₹ 10,100 crore.

Shares of Union Bank of India was last trading in BSE at Rs. 73.77 as compared to the previous close of Rs. 73.52. The total number of shares traded during the day was 1119672 in over 4257 trades.

The stock hit an intraday high of Rs. 75.18 and intraday low of 73.07. The net turnover during the day was Rs. 83427544.00.

Source : Equity Bulls

Keywords

UnionBankofIndia INE692A01016 FundRaising CapitalPlan