Union Bank raising ₹8,000cr: ₹5,000cr Basel III bonds, ₹3,000cr equity
Business
Union Bank of India just announced it is raising up to ₹8,000 crore to strengthen its finances.
The plan splits into two parts: ₹5,000 crore will come from bonds that meet Basel III standards, and the other ₹3,000 crore will be raised through equity in several phases.
Union Bank approves plan, shares dip
For the equity part, Union Bank could use options like FPOs, rights issues, private placements, QIP, or preferential allotments, so there is flexibility in how they get investors on board.
The board gave this plan a thumbs-up at its meeting on May 26, 2026.
After the news dropped, Union Bank shares dipped slightly to ₹167.25 on BSE.