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

  • RBI's new lending norms to clean up bank books, check defaults

    As state-owned banks come closer to cleaning up their balancesheet by March next year, the Reserve Bank of India (RBI) has started another major refor

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

BK Chaturvedi

Governance is under serious attack

The prosecution of an extraordinarily honest civil servant like HC ...

Rajgopal Nidamboor

It is not easy to define emotion

Scientists, who analyse straightforward scientific facts, also recognise and comprehend ...

Dharmendra Khandal

Everything has its place in nature

Last week I was observing an injured animal, because of ...