1. United Bank looks to raise up to Rs 1000 crore

United Bank looks to raise up to Rs 1000 crore

The board of state-owned United Bank of India will meet next week to consider a proposal to raise up to Rs 1,000 crore through various options.

By: | Published: May 11, 2017 3:51 PM
The stock was trading 0.65 per cent higher at Rs 23.15 on the BSE.

The board of state-owned United Bank of India will meet next week to consider a proposal to raise up to Rs 1,000 crore through various options.

“The meeting of the board of directors of the bank shall be held on May 18 to approve raising equity capital not exceeding Rs 1,000 crore in one or more tranches during any financial year by qualified institutions placement, public issue, rights issue or such other capital issue(s),” United Bank of India said in a BSE filing.

The stock was trading 0.65 per cent higher at Rs 23.15 on the BSE.

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