Union Bank of India has approved a capital raising plan of up to ₹8,000 crore, according to an exchange filing submitted after the bank’s board meeting held on May 26, 2026.
The state-owned lender said the board has approved raising equity capital of up to ₹3,000 crore in one or more tranches through various modes, including Further Public Offer (FPO), Rights Issue, Qualified Institutions Placement (QIP), preferential allotment, private placement, or a combination of these methods, subject to necessary approvals from the Government of India, regulators and shareholders.
In addition, the bank also approved raising Basel III-compliant Additional Tier 1 (AT1) or Tier 2 bonds of up to ₹5,000 crore, including foreign currency-denominated AT1/Tier 2 bonds, within the overall ₹8,000 crore fundraising limit.
The bank stated that the proposed fundraising exercise is aimed at strengthening its capital base and supporting future growth requirements. The approvals remain subject to regulatory and shareholder clearances wherever applicable.
The board meeting commenced at 11:00 AM and concluded at 2:00 PM on May 26, 2026.
Disclaimer: This article is based on exchange filings and regulatory disclosures. Investors are advised to consult certified financial advisors before making investment decisions.