Union Bank to raise Rs 6,000 crore this fiscal through securities

Union Bank of India (UBI) Wednesday said it plans to raise up to Rs 6,000 crore this fiscal through securities to meet its capital requirement.

Union Bank to raise Rs 6,000 crore this fiscal through securities
Union Bank board in a meeting held on Wednesday, approved raising "total capital fund up to Rs 6,000 crore during FY 2019-20," UBI said in a regulatory filing. Photo: PTI
Written By: PTI
Updated: Wed, May 15, 2019
11:09 pm
Mumbai, PTI

Union Bank of India (UBI) on Wednesday said it plans to raise up to Rs 6,000 crore this fiscal through securities to meet its capital requirement.

The board of the company, in a meeting held on Wednesday, approved raising "total capital fund up to Rs 6,000 crore during FY 2019-20," UBI said in a regulatory filing.

Approval of the shareholders for raising the equity capital would be sought at the Annual General Meeting of the company, to be held on June 28, 2019.