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United Bank of India plans to issue preferential basis worth Rs 3,000 crore


Devdiscourse News Desk new delhi India
Updated: 31-10-2018 22:47 IST

State-owned United Bank of India Wednesday said it plans to raise up to Rs 3,000 crore by issuing shares on preferential basis.

"The board of directors of the bank... has approved raising of equity capital, in one or more tranches, for an amount not exceeding Rs 3,000 crore by way of preferential allotment of equity shares," it said in a regulatory filing.

The stock of the bank closed 3.31 per cent up at Rs 11.23 on BSE.

(With inputs from agencies.)

COUNTRY : India

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