The Union Bank appointed investment banks such as ICICI Securities, Yes Securities and JM Finance for Qualified Institutional Bidders (QIB) issue, sources said to CNBC-TV18. With this issue, the bank is aiming to raise ₹3,000-3,500 crore.
As per details available, Union Bank is targeting to launch its QIB issue in Q4 of FY23. Also, roadshows for the QIB issue are likely to begin in the next two weeks.
CNBC-TV18 has written to the Union Bank and their response is awaited.
First Published: Jan 12, 2023 11:51 AM IST
