UNITED BANK OF INDIA - Preferential Allotment of 8.45 crore equity shares aggregating to Rs. 300 crore

United Bank of India has informed BSE that the Bank has received Rs.299,99,99,991/- from Life Insurance Corporation of India and completed the preferential allotment of 8,45,07,042 equity shares of Rs.10/- each at a price of Rs.35.50 per share on date.<br/><br/>The Bank received the necessary clearance from the shareholders on June 18, 2014 and the final clearance from the Ministry of Finance on July 16, 2014.