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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The current value of the rupee does not merit market intervention

    The rupee, losing 40 paise per month against the dollar since May, is expected to remain under pressure till the calendar runs out on December 31, bef

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture