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Union Bank of India set to raise Rs 2,000 crore

The PSB stock closed 0.53% down at Rs 141.75 on the BSE

Press Trust of India  |  New Delhi 

Photo: Reuters

today said it will Rs 2,000 crore through various instruments, including rights issue and private placement.

The state-owned lender's committee of directors at its meeting today approved the raising issue.

"The committee... Has resolved and approved raising of equity through public issue (follow-on public offer) and/or rights issue and/or private placement, including qualified institutional placement for an amount of up to Rs 2,000 crore in first tranche during 2017-18," the bank said in a regulatory filing.

The stock today closed 0.53 per cent down at Rs 141.75 on the BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, August 09 2017. 17:55 IST