You are here: Home » Reuters » News
Business Standard

Union Bank of India seeks at least $155 million in share sale: sources

Reuters  |  MUMBAI 

MUMBAI (Reuters) - State-run Union Bank of India launched a share sale to institutions on Thursday to raise at least 10 billion rupees ($155 million), sources with direct knowledge of the matter told Reuters.If demand is strong, the deal can be increased by up to another 10 billion rupees, with the proceeds aimed at helping the bank to boost its capital ratio, said the sources, who declined to be named as the details are not public.The bank is looking to sell the shares at 154.65 rupees each, said one of the sources. Union Bank shares closed at 157.60 rupees on Thursday. The bank, in a ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, December 07 2017. 20:38 IST