Union Bank of India mops up ₹1,447 cr via QIP issue
May 21, 2021
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Committee of Directors approved the issue price of Rs 33.82 per equity share of Rs 10 each
Union Bank of India (UBI) received application forms for an aggregate amount of ₹1447.17 crore from eligible Qualified lnstitutional Buyers (QIBs) under Qualified Institutions Placement (QIP) of equity shares.
The public sector bank’s Committee of Directors for Raising of Capital Funds approved the closure of QIP issue on May 20, 2021. The issue had opened on May 17, 2021.
The Committee determined and approved the issue price of ₹33.82 per equity share of ₹10 each (including a premium of ₹23.82 per equity share), the bank said in a regulatory filing on Thursday evening.