Board of Union Bank of India approves to raise capital up to Rs 6,000 cr

At meeting held on 25 June 2025

The Board of Union Bank of India at its meeting held on 25 June 2025 has approved capital plan of the Bank to raise capital by an amount not exceeding Rs 6,000 crore, subject to:

a) Raising of equity capital not exceeding Rs 3,000 crore in tranche(s) within the overall limit of Rs 6,000 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 or a combination(s) thereof to any eligible institutions and/or through any other mode(s) subject to the approval of Government of India, other regulatory authorities and approval of Shareholders of the Bank.

b) Raising of Basel III compliant Additional Tier 1 (AT 1) Bonds not exceeding Rs 2,000 crore and Tier 2 Bonds not exceeding Rs 1,000 crore(including foreign currency denominated AT1/Tier 2 Bonds) within the overall limit of Rs 6,000 crore.

Powered by Capital Market - Live News