Successfully closed the 2nd QIP Transaction for Union Bank of India being the “Banker of Choice”

Qualified Institutional Placement

Service

August 2023

Date

Financial Institutions

Sector

INR 50,000 MN

Deal Value

Successfully closed the 2nd QIP Transaction for Union Bank of India being the “Banker of Choice”

Deal Details:

  • 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

Contribution:

  • 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

About:

  • 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.