City Union Bank trades higher on getting nod to raise Rs 500 crore through QIP
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City Union Bank is currently trading at Rs. 123.10, up by 0.85 points or 0.70% from its previous closing of Rs. 122.25 on the BSE.
The scrip opened at Rs. 123.25 and has touched a high and low of Rs. 123.45 and Rs. 122.15 respectively. So far 82170 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 204.95 on 15-Dec-2022 and a 52 week low of Rs. 119.50 on 23-Jun-2023.
Last one week high and low of the scrip stood at Rs. 125.75 and Rs. 119.50 respectively. The current market cap of the company is Rs. 9107.12 crore.
The Institutions holding in the company stood at 61.14%, while Non-Institutions held 38.86% in the company.
City Union Bank has received approval to raise Rs 500 crore through the Qualified Institutional Placement (QIP) route to fund business growth. Last year, the bank obtained shareholders' nod for raising Rs 500 crore through QIP but could not utilize. The board of directors at a meeting held on June 26, 2023 has approved the same.
City Union Bank offers a suite of products across deposits, loans, investment solutions, payments and cards.
