Union Bank of India Board Approves Capital Plan to Raise Up to ₹ 8,000 Crore
Union Bank of India announced the outcome of its Board of Directors meeting held on May 26, 2026. The Board reviewed and approved a comprehensive capital plan aimed at raising funds of up to ₹ 8,000 crore.The capital plan outlines two major components for fundraising, designed to bolster the bank's financial structure.
The board approved the raising of equity capital not exceeding ₹ 3,000 crore. This funding can be raised through various avenues, including:
- Public Issue (Further Public Offer)
- Rights Issue
- Private Placements, including Qualified Institutions Placements (QIP) and Preferential Allotment, or a combination of these.
This equity tranche is subject to receiving approvals from the Government of India, other regulatory authorities, and the Bank's Shareholders.
In addition to the equity component, the Board also approved the raising of Basel III compliant Additional Tier 1 Bonds or Tier 2 bonds, up to ₹ 5,000 crore. This debt component includes foreign currency denominated AT1/Tier 2 Bonds, and remains within the overall capital limit of ₹ 8,000 crore.
The Board meeting commenced on May 26, 2026, at 11:00 A.M. and concluded at 2:00 P.M.
UNIONBANK Stock Price Movement
As of 2:26 PM, shares of Union Bank of India are slipping by 0.97% in live trading, currently priced at ₹167.24. The stock is experiencing considerable intraday activity, with 11.61 million shares transacted so far in the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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