Union Bank of India has informed the Exchange regarding Outcome of Board Meeting held on May 26, 2026.
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Union Bank of India's Board of Directors approved a capital raising plan of up to ₹8,000 crore. This includes equity capital of up to ₹3,000 crore via Public Issue (FPO), Rights Issue, Private Placements including QIP, and/or Preferential Allotment. Additionally, the bank will raise Basel III compliant Additional Tier 1 (AT1) Bonds or Tier 2 Bonds up to ₹5,000 crore. The equity component requires approval from the Government of India, regulatory authorities, and shareholders. The meeting was held on May 26, 2026, from 11:00 AM to 2:00 PM.
The capital raise will strengthen Union Bank's balance sheet and Common Equity Tier 1 (CET1) ratio, which is crucial for meeting regulatory requirements and supporting future lending growth. Shareholders should note potential dilution from equity issuance and monitor for specific pricing details of the QIP or Rights Issue.