Luthra and Luthra acts on Union Bank of India QIP

Union Bank plans to raise ₹ 3,000 crore (Three Thousand Crore) through QIP.
Union Bank
Union Bank

Union Bank of India has raised an amount aggregating up to ₹30,000 Million via fresh issue of 221,157,390 equity shares of the Bank through a Qualified Institutions Placement.

The equity shares of the Bank issued under the QIP are to be listed on the BSE Limited and the National Stock Exchange of India Limited for trading purposes.

Geeta Dhania
Geeta Dhania

Luthra and Luthra Law Offices India advised the Union Bank of India in connection with the filing of the preliminary placement document and placement document for the QIP of the Bank.

The transaction team consisted of Geeta Dhania (Partner), Tripti Pandey (Senior Associate), Vedaarth Uberoi (Associate) and Deekhit Bhattacharya (Associate).

Duane Morris & Selvam LLP also advised the investment bankers. Duane Morris & Selvam’s team was led by Jamie Benson, the head of the firm’s US capital markets and India practices.

Crawford Bayley & Co. acted as Indian counsel to the investment bankers.

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