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Union Bank offer price fixed at Rs 110 — Issue subscribed 30 times

Our Bureau

Mumbai , Feb. 22

UNION Bank of India has raised Rs 495 crore through its follow-on public issue of 4.5 crore equity shares. The bank fixed the share price at Rs 110, said a press release.

The issue, which closed on February 21, was subscribed 29.82 times.

The bank had fixed the price band at Rs 100-110.

The institutional portion or qualified institutional buyers portion was subscribed 60.51 times. The High Net Individual portion was subscribed 11.55 times.

The retail portion was subscribed 2.91times.

The press release said nearly 99 per cent of the bids were received at the top end of the band, at Rs 110.

On Wednesday, the shares of Union Bank closed at Rs 119.25, up from the previous close of Rs 118.10.

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