Moneycontrol Be a Pro
Get App
you are here: HomeNewsBusiness
Last Updated : Jan 04, 2019 08:10 AM IST | Source: PTI

Union Bank of India to raise up to Rs 600 cr by issuing shares to staff

On January 2, Syndicate Bank had said it would raise up to Rs 500 crore by issuing shares to its employees under the employee stock purchase scheme.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

State-owned Union Bank of India said it would raise up to Rs 600 crore by issuing shares to its employees under the staff stock purchase scheme.

The stakeholders relationship committee of the bank in its meeting on January 3 approved the 'Union Bank of India-Employee Share Purchase Scheme' to raise equity capital aggregating up to Rs 600 crore by offering up to 8 crore new equity shares to the eligible employees of the bank, it said in a regulatory filing.

On January 2, Syndicate Bank had said it would raise up to Rs 500 crore by issuing shares to its employees under the employee stock purchase scheme.

Close
Vijaya Bank had also said it would issue up to 5 crore fresh equity shares to its employees in one or multiple tranches under Vijaya Bank ESPS.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Jan 4, 2019 08:02 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant