Union Bank of India inches up on raising $500 million from foreign markets
Union Bank Of India is currently trading at Rs. 157.55, up by 0.10 points or 0.06% from its previous closing of Rs. 157.45 on the BSE.
The scrip opened at Rs. 159.95 and has touched a high and low of Rs. 160.05 and Rs. 157.00 respectively. So far 381824 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 161.85 on 07-Mar-2024 and a 52 week low of Rs. 66.40 on 10-Apr-2023.
Last one week high and low of the scrip stood at Rs. 160.05 and Rs. 154.25 respectively. The current market cap of the company is Rs. 120229.29 crore.
The promoters holding in the company stood at 76.99%, while Institutions and Non-Institutions held 16.26% and 6.75% respectively.
Union Bank of India has raised $500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth. The fund was arranged by Dubai International Financial Centre (DIFC), Dubai Branch.
A syndicated term loan of $500 million ($400 million and Green Shoe of $100 million) would be drawn in two tranches with tenure of 3 and 5 years. The first tranche of $100 million was drawn on April 03, 2024.This is the maiden syndicated term loan raised by Union Bank of India at an overseas centre.
Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories - Deposits, Loans and Advances, and Remittances & Collections.
