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Saturday, September 14, 2019

Union Bank of India gets nod to raise up to Rs 17,200 crore


Union Bank of India gets nod to raise up to Rs 17,200 crore

The board of public sector lender Union Bank of India on September 9, 2019 gave approval to raise funds up to Rs. 17,200 crore in the ongoing financial year ended March 2020.


The lender will raise up to Rs. 13,000 crore through equity capital and up to Rs. 7,200 crore through AT1/Tier II bonds.

The board approved capital raising by issue of equity shares through preferential allotment to the Government of India for an amount up to Rs 13,000 crore subject to other regulatory approvals,” Union Bank said in a BSE filing.


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