City Union Bank will raise Rs 300 crore by way of private placement of shares with qualified institutional buyers.

Shareholders of the bank in August had approved a proposal to raise Rs 300 crore by allotting shares to potential buyers, City Union Bank said in a filing to the Bombay Stock Exchange today.

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Shares of City Union Bank were trading at Rs 29.65 on the BSE, down 1.50 per cent from previous close.

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