State-run Union Bank of India on Tuesday approved plans to raise up to Rs 8,000 crore through a mix of debt and equity instruments, PTI reported.In a regulatory filing to the BSE, the bank said its board had approved raising debt capital of up to Rs 5,000 crore through Basel III-compliant Additional Tier-1 bonds and/or Tier-2 bonds.The board has also approved raising Rs 3,000 crore through equity issuance in phases within the overall Rs 8,000 crore limit.The equity component may be raised through a public issue, including a Further Public Offer (FPO), rights issue or private placements such as Qualified Institutional Placements (QIP) and preferential allotments, the filing said.“The board of directors, in its meeting held on May 26, 2026, considered and approved the plan of the bank to raise capital by an amount not exceeding Rs 8,000 crore,” the bank said.Shares of Union Bank of India were trading at Rs 167.25 on the BSE, down 1.01 per cent from the previous close.
