Union Bank gets shareholders approval to raise up to Rs 6,800 crore
During the Extraordinary General Meeting (EGM), the shareholders passed the special resolution with the requisite majority for raising capital through FPO/Rights or QIP or preferential allotment
PTI | December 30, 2020 | Updated 23:30 IST
Union Bank of India will utilise the raised capital for general business purposes, it said in a regulatory filing
Shareholders of Union Bank of India on Wednesday approved the bank s proposal for raising up to ?6,800 crore equity capital to fund business growth.
During the Extraordinary General Meeting (EGM), the shareholders passed the special resolution with the requisite majority for raising capital through FPO (Follow-on Public Offering)/Rights or QIP (Qualified Institutional Placement) or preferential allotment, the bank said in a regulatory filing.