City Union Bank is looking to raise around Rs 500 crore through Qualified Institutions Placement (QIP) as part of its business growth plans.
The Bank has resolved to seek shareholders’ approval for an enabling resolution to raise equity capital including premium upto Rs 500 crore through QIP as and when necessary subject to the applicable laws and regulations including the guidelines issued by Sebi and RBI.
City Union Bank offers a suite of products across deposits, loans, investment solutions, payments and cards. The Bank operates in four segments, which includes Corporate/Wholesale banking, Retail Banking, Treasury and Other Banking Operations.
