PNB, in a regulatory filing, had announced the share exchange ratio in accordance with the scheme of amalgamation, as it is set to merge OBC and UBI into itself with effect from April 1. According to the swap ratio, 1,150 equity shares of PNB are to be exchanged for every 1,000 equity shares of OBC, while 121 equity shares of PNB are to be swapped for every 1,000 equity shares of UBI.PNB will be the anchor bank post the merger. The merged entity will be the second-largest public sector undertaking bank in India and March 25 has been fixed as the record date for the share allotment. The official told PTI that UBI had been running into losses for some time, except for the last four…
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United Bank Of India Low Net Worth Led To Poor Swap Ratio: Official
