NEW DELHI: Public lender United Bank of India looks to raise up to Rs 500 crore through issuance of Basel III-compliant bonds on private placement basis.
"The board of directors of the bank... approved issuance and allotment of unsecured Basel III compliant, listed, tier-2 bonds in the form of promissory note... with or without greenshoe option, aggregating up to Rs 500 crore on a private placement basis," the bank said in a regulatory filing.
The stock was trading at Rs 20, up 1.01 per cent, from its previous close, on the BSE.