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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