City Union Bank approves QIP issue of Rs500cr; stock dips 3%

Further, the board recommended Final Dividend @ 20%, i.e. Rs0.20 paise per equity share of face value of Re 1/- subject to shareholder approval.

Jul 20, 2021 02:07 IST India Infoline News Service

city union bank
City Union Bank said in the regulatory filing that the board has approved raising further capital through the QIP route to the tune of Rs500cr. AGM date fixed as August 19, 2021, and approved the Notice of the AGM of the bank, the bank said on Monday in the filing.

Further, the board recommended a Final Dividend @ 20%, i.e. Rs0.20 paise per equity share of the face value of Re 1/- subject to shareholder approval.

Raising Further Capital through QIP Route to the tune of Rs500cr (including premium) subject to shareholder approval, it added.

City Union Bank Ltd is currently trading at Rs154 down by Rs4.75 or 2.99% from its previous closing of Rs158.75 on the BSE.

The scrip opened at Rs159 and has touched a high and low of Rs159.30 and Rs153.50 respectively.

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