Latest News | Union Bank on India to Raise Up to Rs 5,000 Crore Through QIP
Get latest articles and stories on Latest News at LatestLY. Union Bank of India on Monday said it will raise up to Rs 5,000 crore through qualified institutional placement.
New Delhi, Aug 21 (PTI) Union Bank of India on Monday said it will raise up to Rs 5,000 crore through qualified institutional placement.
A Committee of Directors on Raising Capital Funds has, at its meeting held on Monday i.e. August 21, 2023, approved the raising of funds for an amount not exceeding Rs 5,000 crore through the issue of equity shares through Qualified Institutions Placement (QIP), Union Bank said in a regulatory filing.
The floor price of the issue is Rs 91.10 per equity share, while the date of opening of the issue is Monday, the bank added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)