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(26/05/2026 16:04)

Union Bank of India approves Rs 8,000 cr Fundraising Plan

Union Bank of India on Tuesday approved a plan to raise up to Rs 8,000 crore through a mix of debt and equity instruments.

In a regulatory filing, the bank said its board approved raising up to Rs 5,000 crore through Basel III-compliant Additional Tier-1 (AT-1) bonds and/or Tier-2 bonds.

The board also approved raising up to Rs 3,000 crore in equity capital in one or more tranches through various routes, including further public offer (FPO), rights issue, qualified institutional placement (QIP), preferential allotment, and private placement.

The fundraising will be carried out within the overall approved limit of Rs 8,000 crore.
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