Union Bank of India opens QIP, floor price fixed as Rs. 35.60

The Committee of Directors of Union Bank of India for Raising Capital Funds ("Committee") has at its meeting held today i.e. May 17, 2021, have approved the raising of funds for an amount not exceeding Rs. 1,750 crore through issue of equity shares through Qualified Institutions Placement subject to the requisite regulatory /statutory approvals, as applicable.

The committee has approved and adopted the Preliminary Placement Document dated May 17, 2021 and the application form dated May 17, 2021 in connection with the issue ("Preliminary Placement Document").

The committee authorised the opening of the issue today, i.e. May 17, 2021 and approved the Floor Price of Rs. 35.60 per equity share for the issue.

Shares of UNION BANK OF INDIA was last trading in BSE at Rs.37.95 as compared to the previous close of Rs. 37.4. The total number of shares traded during the day was 650821 in over 1716 trades.

The stock hit an intraday high of Rs. 38.35 and intraday low of 37.45. The net turnover during the day was Rs. 24738255.

Source : Equity Bulls

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