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.
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