Union Bank Postpones Raising Fund via QIP

union bakUnion Bank of India has decided to defer the plan to raise Rs 1,386 crore funds via Qualified Institutional placement (QIP). They were planning to do it this fiscal but now it’s delayed for next fiscal

According to reports, Union Bank of India Chairman and Managing Director, Arun Tiwari said that,” We will hit the market at the right time. The plan to raise Rs 1,386 crore fund through QIP was already aprroved.”

Union Bank has already taken the stakeholder’s approval for fund raising already in June last year,

Union Bank of India has also planned to raise Rs 2,000 crore capital. They would issue Additional Tier 1 Bonds.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.