Business Standard

United Bank to raise up to Rs 3,000 cr by issuing shares on preferential basis

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Press Trust of India New Delhi
State-owned United Bank of India Wednesday said it plans to raise up to Rs 3,000 crore by issuing shares on preferential basis.
"The board of directors of the bank... has approved raising of equity capital, in one or more tranches, for an amount not exceeding Rs 3,000 crore by way of preferential allotment of equity shares," it said in a regulatory filing.
Stock of the bank closed 3.31 per cent up at Rs 11.23 on BSE.

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First Published: Oct 31 2018 | 9:55 PM IST

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