City Union Bank to raise Rs 300 cr via share sale

Private sector lender City Union Bank today said it will raise Rs 300 crore through a share sale.

The board of directors of the company at its meeting held today decided to raise Rs 300 crore through the issue of equity shares by way of qualified institutional placement, City Union Bank said in a filing to the Bombay Stock Exchange (BSE).

Shares of City Union Bank closed at Rs 35.35 on the BSE, down 1.81 per cent from the previous close.