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    HomeNewsBusinessUnion Bank of India set to raise Rs 2,000 crore

    Union Bank of India set to raise Rs 2,000 crore

    Union Bank of India said it will raise Rs 2,000 crore through various instruments, including rights issue and private placement.

    August 09, 2017 / 19:36 IST
    The logo of Union Bank of India is pictured on the wall of its branch in Kolkata, India, April 11, 2017. REUTERS/Rupak De Chowdhuri - RTX3531T

    Union Bank of India on Wednesday said it will raise Rs 2,000 crore through various instruments, including rights issue and private placement.

    The state-owned lender's committee of directors at its meeting today approved the capital raising issue.

    "The committee... has resolved and approved raising of equity capital through public issue (follow-on public offer) and/or rights issue and/or private placement, including qualified institutional placement for an amount of up to Rs 2,000 crore in first tranche during 2017-18," the bank said in a regulatory filing.

    The stock today closed 0.53 per cent down at Rs 141.75 on the BSE.

    first published: Aug 9, 2017 07:25 pm

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