United Bank of India to raise Rs 300 crore through rights issue

United Bank of India - (Amalgamated) | Bank - Public | BFSI | BSE: 533171 | NSE: UNITEDBNK

27 Nov 2012 Evaluate

Kolkata-based United Bank of India (UBI) is planning raise Rs 300 crore through rights issue by the end of this financial year. It has got the board approval for the rights issue on November 21, and will approach the Reserve Bank of India and Union government for the same.

Other than this, the bank has decided to raise about Rs 250 crore as perpetual debt in several tranches over the next quarter. The bank has a shareholders’ approval to raise Rs 250 crore through perpetual debt, with a green shoe option of raising another Rs 250 crore.

Peers

Company Name	CMP
State Bank Of India	978.50
PNB	117.05
Bank Of Baroda	234.55
Canara Bank	125.90
Union Bank Of India	179.25
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