Union Bank of India approves Rs 3,000cr QIP share sale for business growth funding.
Union Bank of India, a state-owned bank, has approved a Rs 3,000 crore share sale proposal through Qualified Institutions Placement (QIP) to fund business growth. The bank plans to raise funds by issuing equity shares with a set floor price of Rs 142.78 per share. The decision for allotment of shares to Qualified Institutional Buyers will be made on February 23, 2024, subject to regulatory and statutory approvals.
February 20, 2024
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