Union Bank of India gains on raising Rs 2200 crore through bonds

Union Bank of India is currently trading at Rs. 83.20, up by 1.00 points or 1.22% from its previous closing of Rs. 82.20 on the BSE.

union bank of india gets nod to raise rs 6000 crore in fy20
Union Bank of India

The scrip opened at Rs. 82.20 and has touched a high and low of Rs. 83.70 and Rs. 81.15 respectively. So far 1094782 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 83.70 on 30-Nov-2022 and a 52 week low of Rs. 33.55 on 12-May-2022.

Last one week high and low of the scrip stood at Rs. 83.70 and Rs. 75.05 respectively. The current market cap of the company is Rs. 56284.15 crore.

The promoters holding in the company stood at 83.49%, while Institutions and Non-Institutions held 8.48% and 8.02% respectively.

Union Bank of India has raised Rs 2200 crore through allotment of Unsecured, Subordinated, Non-Convertible, Taxable, Fully Paid-Up Basel III Compliant Tier- 2 Bonds in the nature of Debentures eligible for inclusion in Tier 2 Capital (Bonds) in two tranches of Rs 1500 crore and Rs 700 crore on November 29, 2022.

Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories – Deposits, Loans and Advances, and Remittances & Collections.

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