Union Bank of India on Tuesday approved raising of up to ₹8,000 crore, which would include the issuance of equities worth ₹3,000 crore.
In a BSE filing, Union Bank said the board has approved raising of debt capital through Basel III-compliant additional Tier 1 bonds and/or Tier 2 not exceeding ₹5,000 crore.
Besides, the board has approved raising ₹3,000 crore equity capital in tranches within the overall limit of ₹8,000 crore, through Public Issue (i.e. Further Public Offer) and/or rights issue and/or private placements, including Qualified Institutions Placements and/or Preferential Allotment.
“The board of directors, in its meeting held on May 26, 2026, considered and approved the plan of the bank to raise capital by an amount not exceeding ₹8,000 crore,” the filing said.
Shares of Union Bank of India were trading at ₹167.25, down 1.01 per cent over the previous close on BSE.
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