Board of Union Bank of India approves plan to raise capital up to Rs 8100 cr

26 May 2022 , 07:29 PM

The Board of Union Bank of India at its meeting held on 26 May 2022 has approved capital plan of the Bank to raise capital funds by an amount not exceeding 8100 crore as follows: a) raising of equity capital not exceeding Rs. 3,800 crore, within the overall limit of Rs. 8,100 crore, through Public Issue (i.e. Follow-on Public Offer) and/or Rights Issue and/or Private Placements, including Qualified Institutions Placements and/or Preferential Allotment to the Government of lndia and/or other institutions and/or through any other mode(s); and/or, b) raising of AT 1 and/or Tier 2 bonds not exceeding Rs. 4,300 crore within the overall Limit of Rs.8,100 crore (including Green/foreign currency denominated AT1 /Tier 2 Bonds).Powered by Capital Market – Live News