PSU lender Union Bank of India on Friday announced fundraising of up to Rs 3,000 crore through Qualified Institutions Placement (QIP) at issue price of Rs 135.65. The issue price is at nearly 4% discount to floor price of Rs 142.78.
"The Committee of Board of Directors for Raising of Capital Funds at its meeting held today i.e. February 23, 2024 has, determined and approved the issue price of Rs 135.65 per equity share of Rs 10 each (including a premium of Rs 125.65 per equity share), which is at a discount of 4.9937% (i.e. Rs 7.13 per equity share) to the floor price of Rs 142.78 per equity share," said the bank in a stock exchange filing.
On Friday, the bank's scrip on BSE closed 1% lower at Rs 145.7. The 52-week high of Union Bank of India's scrip is Rs 155.35 and 52-week low is Rs 60.35.
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