Public sector lender United Bank of India has raised USD 127.49 crore through sale of shares to qualified institutional investors.
A board level issue approval committee today approved allotting over 5.49 crore shares to qualified institutional buyers at issue price of Rs 23.22 per share, the bank said in a regulatory filing.
The Kolkata-headquartered lender in January had said it planned to raise up to Rs 1,500 crore through qualified institutional placement (QIP), rights or public issue.
Shares of the bank closed 0.8 per cent down at Rs 24.95 on BSE today.
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