New Delhi: Union Bank of India on Tuesday approved raising of up to Rs 8,000 crore, which would include the issuance of equities worth Rs 3,000 crore.

In a BSE filing, Union Bank said the board has approved raising of debt capital through Basel III-compliant additional Tier 1 bonds and/or Tier 2 not exceeding Rs 5,000 crore.

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Besides, the board has approved raising Rs 3,000 crore equity capital in tranches within the overall limit of Rs 8,000 crore, through Public Issue (i.e. Further Public Offer) and/or rights issue and/or private placements, including Qualified Institutions Placements and/or Preferential Allotment.

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"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 filing said.

Shares of Union Bank of India were trading at Rs 167.25, down 1.01 percent over the previous close on BSE.

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