Disclosures pertaining to investment in ASREC (I) Ltd.
UNIONBANK · price
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Union Bank of India has made an additional investment of ₹22.64 crores in ASREC (I) Ltd, which is a joint venture company of the Bank. Following this investment, the Bank's shareholding in ASREC (I) Ltd has increased from 26.02% to 27.30%. The disclosure has been filed under Regulation 30 of SEBI (LODR) Regulations, 2015, which mandates disclosure of material events by listed entities. This represents a modest increase in the Bank's stake in the joint venture company.
This is a routine incremental investment in an existing joint venture and unlikely to have any significant impact on the Bank's stock price. The increase in shareholding by approximately 1.28 percentage points is relatively small.