United Bank plans to raise Rs 1,000 cr via QIP

India Infoline News Service | Mumbai |

This will be in addition to the Rs. 575 crore it aims to raise by issuing equity shares on a preferential basis

United Bank of India (UBI) plans to raise up to Rs. 1,000 crore through a qualified institutional placement or rights issue this fiscal, according to a media report.
This will be in addition to the Rs. 575 crore it aims to raise by issuing equity shares on a preferential basis to the government (Rs. 275 crore) and to the Life Insurance Corporation of India (Rs. 300 crore).
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