Union Bank of India QIP: Morgan Stanley, Societe Generale among those allotted share

Morgan Stanley, Societe Generale and BNP Paribas Financial Markets are among the institutional investors that have been allotted shares by Union Bank of India following its ₹3,000 crore fund raise.

In total, six institutional investors have been allotted more than 5% of the equity shares each offered in the qualified institutional placement (QIP) issue by the public sector lender, according to a stock exchange filing.

The Committee of Directors for Raising Capital Funds of the bank on Monday finalised the allotment of 22.11 crore equity shares of face value of ₹10 each at the issue price ₹135.65 per equity share to raise a total of ₹3,000 crore from eligible qualified institutional buyers.