Bank Stock News

Private sector lender City Union Bank is planning to raise over Rs125 crore by allotting equity stakes to a clutch of domestic and foreign investors, including Larsen & Toubro, LIC, and the Netherlands-based Nederlandse Financierings. Around 15 lakh shares are proposed to be allotted to state-run LIC and 3 lakh shares to L&T on a preferential basis at Rs169.15 per share raising Rs30.44 crore