Union Bank of India plans to raise up to 74 billion rupees through the issuance of equity or and/or bonds in the financial year ending March 31, 2019.
The lender placed a cap of up to 68.50 billion rupees for funds raised through equity capital, and up to 37 billion rupees for funds raised through the issuance of Additional Tier 1 and Tier 2 bonds.
The issuance is subject to shareholder approval and other regulatory approvals, according to a May 18 stock exchange filing.
As of May 18, US$1 was equivalent to 68.02 Indian rupees.
