United Bank of India has informed that at the meeting of the Board of Director scheduled to be held on December 18, 2015, the proposal to raise Equity Capital by Preferential Allotment up to Rs 1500cr. including premium to the President of India on behalf of the Central Government or Life Insurance Corporation of India or funds thereof or such other investors as may be decided provided that the Central Government holding at any time shall not fall below 51% of the equity capital of the Bank, shall inter-alia be taken up for consideration.
The above information is a part of company’s filings submitted to BSE.
