Union Bank of India allots 42.79 cr equity shares under QIP issue

The committee of directors for raising capital funds of Union Bank of India at its meeting held on 21 May 2021 has approved the issue of allotment of 42,79,03,111 equity shares of face value Rs.10 each to eligible Qualified Institutional Buyers at the issue Price of Rs.33.82 per equity share (including a premium of Rs.23.82 per equity share) against the floor price of Rs.35.60 per Equity Share after considering 5% Discount, aggregating to Rs.14,47,16,83,214.02 crore, pursuant to the issue in accordance with the SEBI ICDR Regulations.

Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the Bank stands increased from Rs.6,406.84 crore, comprising of 640,68,44,355 equity shares to Rs.6,834.74 crore, comprising of 683,47,47,466 equity shares of face valve Rs. 10.00.

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