MUMBAI: City Union Bank on Tuesday said its board approved a proposal to raise up to Rs 500 crore through a qualified institutional placement (QIP), including premium, subject to shareholder approval. The proposed fund raise will be placed as an enabling resolution in the notice for the bank’s upcoming annual general meeting. The lender has scheduled its AGM for August 14, 2026. The board fixed the same day as record date for a dividend of Rs 2 per share, equivalent to 200% on the face value of Rs 1 per share for FY26.
City Union Bank to raise over Rs 500 crore through QIP
City Union Bank's board has greenlit a plan to raise up to ₹500 crore via a qualified institutional placement, pending shareholder nod at the August 14, 2026 AGM. This move aims to bolster the bank's capital. On the same day, shareholders will consider a ₹2 per share dividend for FY26, representing a 200% payout on the face value.
93 words~1 min read
