City Union Bank to raise Rs 300 crores through QIP

City Union Bank Ltd has announced that the Board of Directors of the Bank at its meeting held on June 29, 2010 have resolved to issue equity shares by way of Qualified Institutional Placement (QIP) route up to Rs. 300 crore (Rupees Three Hundred Crore) in accordance with the SEBI Guidelines and subject to necessary approvals.

The stock closed the day at Rs.35.35, down by Rs.0.65 or 1.81%. The stock hit an intraday high of Rs.36.50 and low of Rs.35.10.

The total traded quantity was 587121 compared to 2 week average of 574740.

Source : Equity Bulls

Keywords