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United Bank of India (UBI) is planning to Raise up to Rs 1,500 crore through qualified Institutional Placement, rights or public issue.
The bank had said in a BSE filing that UBI will raise Rs 500 crore in the first tranche and Rs 1,000 crore in one or more tranches during any financial year.
It further said that “The Board of Directors of the bank, at its meeting held on January 28, 2016, has considered and approved the proposal to raise equity up to an aggregate amount of Rs 500 crore in the first tranche and not exceeding Rs 1,000 crore in one or more tranches during any financial year.”
