United Bank of India has informed BSE that the Board of Directors of the Bank taking note of the Letter No. F.No.11/7/2008-BOA dated February 15, 2011 received from Ministry of Finance, Government of India, and having considered and approved the issue and allotment of equity shares of Rs 10/- each at such price as determined in accordance with the SEBI ICDR Regulations, 2009 aggregating up to Rs 308 Crore.
In terms of Regulation 76(1) of the (Issue of Capital & Disclosure Requirements) Regulations 2009 (SEBI ICDR Regulations) the issue price for the said Preferential Allotment works out to Rs.110.04 per share (Rupees One Hundred Ten and Paisa Four Only) including a premium of Rs 100.04/- per equity share, Accordingly the Bank proposes to issue and allot up to 279,89,821 equity shares to the Government of India on Preferential Basis.
Sensex
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Monday, February 21, 2011
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