City Union Bank Limited has informed the Exchange regarding 'QIP ISSUE'.
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City Union Bank's board, at its meeting on June 11, 2025, approved raising additional capital of Rs. 100 crore (including premium) through the Qualified Institutions Placement (QIP) route. The proposal will be placed before shareholders at the upcoming Annual General Meeting scheduled for August 13, 2025, as an enabling resolution. The board also fixed August 1, 2025 as the record date for payment of a 200% dividend (Rs. 2 per share on face value of Re. 1) for FY2025. The dividend will be paid to members on or after August 13, 2025, within the statutory time frame.
The Rs. 100 crore QIP is a relatively small capital raise and is being taken to the AGM only as an enabling resolution, so actual fundraising will happen later subject to shareholder approval and market conditions. Shareholders will receive a healthy 200% dividend, which is a positive return signal, while the dilution from the QIP will depend on the eventual issue price.