Stock of Union Bank closed 2.12% down at Rs83.30 on BSE. Photo: MintNew Delhi: Public sector Union Bank of India on Friday said it has got approval from its board to raise up to Rs7,400 crore in the current financial year by way of core equity capital or through bonds. The bank has capped the money to be raised from additional tier I (ATI) bonds or tier 2 bonds to Rs3,700 crore within the overall capital raising limit of Rs7,400 crore. “Raising of equity capital is subject to shareholders’ approval which would be sought at the annual general meeting to be held on 27 June, 2018,” it said in a regulatory filing. Stock of Union Bank closed 2.12% down at Rs83.30 on BSE.

Source: Mint May 18, 2018 14:26 UTC