City Union Bank gains on strong response to share sale

Tags: Companies
Shares in City Union Bank Ltd rise on strong response to its share sale to raise up to 3.50 billion rupees ($58.2 million).

City Union Bank on Monday evening launched a share sale for institutional investors to raise 2.50-3.50 billion rupees, term sheet showed.

Floor price for the share sale had been fixed at 75.05 rupees a share, the lender said in a statement.

The bank's share sale has been oversubscribed by nearly 2.5 times, people involved in the process said.

The lender's shares were up nearly 1 percent to 75.15 rupees at 10:02 a.m.

EDITORIAL OF THE DAY

  • In lavishing largesse on bureaucrats, the government may be buying their loyalty

    Wednesday’s pay hike for central government employees continues to strengthen post colonial India’s colonial structures of power, privileges and p

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

Brexit from an East Asian point of view

The decision of the Br­itish voters to leave the European ...

Zehra Naqvi

The hawk & the human

Humankind is obsessed with the desire to fly. That’s why ...

Bubbles Sabharwal

A piece of peace

Travel is intoxicating and invigorating, magical and mystical! You never ...