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Union Bank of India to issue 117.68B rupees of shares to Indian government

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Union Bank of India to issue 117.68B rupees of shares to Indian government

Union Bank of India plans to issue 117.68 billion rupees of new equity shares to the Indian government on a preferential basis.

The issue price has yet to be determined.

The issuance is subject to shareholder approval.

As of Oct. 9, US$1 was equivalent to 71.10 Indian rupees.