New Delhi, Dec 7 (PTI) Public sector lender Union Bank ofIndia today said it has initiated the process of raising up toRs 2,000 crore through qualified institutional placement(QIP).
The committee of directors for raising capital funds ofthe bank at the meeting held today approved opening of QIP,Union Bank of India said in a regulatory filing on stockexchanges.
The bank has approved the "issue price of Rs 162.79 perequity share", it said.
The board of the bank in August had given approval forraising Rs 2,000 crore through various instruments, includingrights issue and private placement in first tranche during2017-18. PTI DP HVSBT.
This is unedited, unformatted feed from the Press Trust of India wire.