Board of Union Bank of India approves capital plan for FY 2017-18

At meeting held on 28 April 2017

Union Bank of India announced that the Board of Directors has given following approvals in its meeting held on 28 April 2017:-

Approval of Capital Plan F.Y. 2017-18. To raise total Capital Funds up to Rs.6350 crore during the year 2017-18 in the form of Core Equity Capital and / or Additional Tier 1 (AT1) Bonds and / or Tier 2 Bonds, subject to maximum issue of Rs.4800 crore, within overall limit of Rs.6350 crore, of Additional Tier 1 (AT1) Bonds and / or Tier 2 Bonds.

To raise Equity Capital not exceeding Rs.4950 crore, within overall limit of Rs.6350 crore, during F.Y. 2017-18 through Public Issue (i.e. follow-on-Public Issue) and/or Rights Issue and/or Private Placement, including Qualified Institutional Placements and/or Preferential allotment the Government of India or other Institutions and/or any other mode(s) subject to necessary approval by the Government of India, other regulatory authorities and of the shareholders in the General Meeting as and when applicable.

Powered by Capital Market - Live News