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Union Bank of India Board Approves Plan to Raise Rs 10,000 crore

Union Bank of India logoUnion Bank of India
Sig3.05Sen+3.90Env0.00Soc0.00Gov+2.60

Union Bank of India’s board has approved a plan to raise up to Rs 10,000 crore to strengthen capital for business growth. The bank will seek Rs 6,000 crore via equity issuance in tranches, and can issue Basel III-compliant AT1 bonds and Tier 2 bonds up to Rs 2,000 crore each, including a foreign-currency option, subject to government, regulator and shareholder approvals.

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