CUB board nod to raise ₹500cr

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Chennai: The board of private lender City Union Bank (CUB) on Tuesday gave its nod to raise Rs 500 crore through Qualified Institutional Placement (QIP).In a regulatory filing, the bank said the board had approved raising additional capital of up to Rs 500 crore (including premium) through a QIP. The proposal will be included in the notice convening the ensuing annual general meeting (AGM) for shareholders’ approval through an enabling resolution.

The AGM has been scheduled for Aug 14, 2026.