Board of Union Bank of India approves capital plan of Rs 9700 cr

At meeting held on 30 June 2021

The Board of Union Bank of India at its meeting held on 30 June 2021 has approved:

Capital Plan of the Bank to raise capital funds by an amount not exceeding Rs.9,700 crore, subject to:

a) raising of equity capital not exceeding Rs. 3,500 crore, within the overall limit of Rs. 9,700 crore, through Public lssue (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 India 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. 6,200 crore within the overall limit of Rs.9,700 crore.

 

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