Union Bank approved ₹8,000 crore

Union Bank of India on Tuesday approved raising up to ₹8,000 crore, which will include equity issuance of ₹3,000 crore.

In a BSE filing, Union Bank said the board has approved raising debt capital not exceeding ₹5,000 crore through Basel III-compliant additional Tier 1 bonds and/or Tier 2 bonds.

Further, the Board has approved raising of ₹3,000 crore equity capital in tranches, within the overall limit of ₹8,000 crore, through public issue (i.e. forward public offering) and/or rights issue and/or private placement, including placement and/or preferential allotment to eligible institutions.

“The Board of Directors, in its meeting held on May 26, 2026, considered and approved the bank’s plan to raise capital of over ₹8,000 crore,” the filing said.

Shares of Union Bank of India were trading at ₹167.25, down 1.01 per cent from its previous close on BSE.