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Union Bank set to raise Rs2,000 crore

LiveMint logoLiveMint 09-08-2017 PTI

New Delhi: Union Bank of India on Wednesday said it will raise Rs2,000 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 Rs2,000 crore in first tranche during 2017-18,” the bank said in a regulatory filing.

The stock today closed 0.53% down at Rs141.75 on the BSE.

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