Union Bank of India successfully raised ₹ 3,000 Crore Equity Capital via Qualified Institutions Placement (QIP)

Union Bank of India, one of the largest Public Sector Banks in India, has successfully raised equity capital of ₹ 3,000 crore via Qualified Institutions Placement (QIP) on February 26, 2024. The Issue was opened on February 20, 2024 and received strong interest from high quality Domestic and Foreign Portfolio Investors. Bank has allotted 22.11 crore Shares at price of

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Union Bank of India successfully raised ₹ 3,000 Crore Equity Capital via Qualified Institutions Placement (QIP)

 The QIP received an encouraging response from the market & saw participation by a diversified investor base, which includes Banks, Asset Management Companies, Insurance Companies and Foreign Portfolio Investors.  Allotment of 22.11 crore shares at ₹ 135.65 per share (including premium of ₹ 125.65 per share) aggregating to ₹ 3,000 crore (Three Thousand Crore).  The amount of capital raised through

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