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BSE SENSEX
73,088.33
+599.34
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Corporate Announcement
Security Code
532477
Company
UNION BANK OF INDIA
Exchange Received Time
29/07/2020 20:25:08
Exchange Disseminated Time
29/07/2020 20:25:20
Time Taken
00:00:12
Outcome Of The Meeting Of Board Of Directors Held On July 29, 2020 |
7/29/2020 8:25:13 PM
The Board of Directors in its meeting held on 29.07.2020, inter-alia, considered & approved:
1. Capital Plan of the Bank for the FY 2020-21 to raise capital funds by an amount not exceeding Rs.10,300 crore, subject to:
a) raising of equity capital not exceeding Rs. 6,800 crores through Public Issue (i.e. Follow-on Public Offer) and/or Rights Issue and/or Private Placements, including Qualified Institutions Placements and/or Preferential Allotment to the Government of India and/or other institutions and/or through any other mode(s); and/or,
b) raising of AT 1 and/or Tier II bonds not exceeding Rs. 9,400 crores.
and with the necessary approvals including the approval of shareholders, if any, for the same at an appropriate time.
2. Opening Balance Sheet of the Amalgamated Bank as at April 1, 2020 i.e. post amalgamation of Andhra Bank and Corporation Bank into Union Bank of India. A copy of the same is enclosed herewith.
The Board meeting commenced at 12:30 P.M. and concluded at 8.10 P.M.
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