At 11:20 am, Union Bank shares had been buying and selling decrease by 1.4 per cent at Rs 37.40
Union Bank has permitted elevating Rs 1,750 crore by way of certified institutional placement at a ground value of Rs 35.60 per share. “The committee of the directors for raising capital funds at its meeting held on May 17, 2021, has approved raising of funds for an amount not exceeding Rs 1,750 crore through the issue of equity shares through qualified institutions placement (QIP),” Union Bank mentioned in a regulatory submitting to the inventory exchanges.
Union Bank might provide a reduction of not exceeding 5 per cent on the ground value calculated for the problem, it added.
Meanwhile, Union Bank has additionally introduced {that a} assembly of the committee of administrators is scheduled to be held on May 20, 2021 to think about and approve the problem value for fairness shares to be allotted to certified institutional consumers, pursuant to the problem.
At 11:20 am, Union Bank shares had been buying and selling decrease by 1.4 per cent at Rs 37.40 as towards a 1.5 per cent rise within the BSE Sensex.
