- QIP helped in achieving dual objectives of augmenting Tier I Capital which will aid growth plans as well as reach significantly closer to achieving Minimum Public Shareholding (MPS) norms
- Offering received an overwhelming response from investors – a testimony to strong financial performance demonstrated by Union bank of India
- ~65% of the book was allocated to ‘Long Only’ Investors
- With this QIP, Nuvama has successfully closed the 2nd transaction for Union Bank of India being the “Banker of Choice”
Dec’17 – QIP (INR 20,000 M) | Aug’23 – QIP (INR 50,000 M)
- Nuvama garnered participation from a diverse investor set including Marquee FII and DII investors
- Nuvama worked closely with the Bank through the entire QIP process including post issue activities to ensure smooth and successful closure
- Union Bank of India is the 5th largest# Public Sector Bank in India* with a rich legacy of serving the people of India since 1919.