Union Bank of India announced on Tuesday its approval to raise up to ₹8,000 crore, which will involve the issuance of equities amounting to ₹3,000 crore.
In a filing with the Bombay Stock Exchange (BSE), the bank’s board confirmed the decision to raise debt capital through the issuance of Basel III-compliant additional Tier 1 bonds and/or Tier 2 bonds, with the total not exceeding ₹5,000 crore.
Additionally, the board has sanctioned raising ₹3,000 crore in equity capital in tranches within the overall limit of ₹8,000 crore, utilizing mechanisms such as a Public Issue (Further Public Offer), rights issues, private placements, Qualified Institutions Placements (QIPs), and preferential allotments.
“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 stated.
As of the latest trading data, shares of Union Bank of India were priced at ₹167.25, reflecting a decrease of 1.01 percent from the previous closing price on the BSE.
This capital-raising initiative is aimed at bolstering the bank’s financial position in compliance with regulatory requirements and supporting future growth initiatives.
Published on May 26, 2026.
