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Union Bank of India plans to raise up to Rs 6,000 crore through equity and debt, with Rs 3,000 crore via equity and Rs 3,000 crore through debt, including AT1 and Tier 2 bonds.
Union Bank of India to raise Rs 6000 via equity and debt.
Union Bank of India Share Price: Shares of Union Bank of India are in the spotlight today, June 26, after the board approved a plan to raise up to Rs 6,000 crore through a mix of equity and debt instruments. The decision was made at the Board meeting on June 25, 2025.
As per an exchange filing, the public sector lender will raise up to Rs 3,000 crore via equity capital in one or more tranches. This could be done through methods such as a Further Public Offer (FPO), Rights Issue, Qualified Institutions Placement (QIP), Preferential Allotment, or a combination of these.
Shares of Union Bank of India settled 1.70 per cent lower on Wednesday to close at Rs 144.59 per share. The scrip opened at Rs 146.50 apiece.
Additionally, the bank has received approval to raise up to Rs 3,000 crore through debt instruments. This includes Rs 2,000 crore via Basel III-compliant Additional Tier 1 (AT1) bonds and Rs 1,000 crore through Tier 2 bonds. The debt instruments may also be issued in foreign currency, according to the bank.
Govt Cancels Bank’s ED Appointment
The Government has cancelled its order on the appointment of Pankaj Dwivedi as executive director (ED) of Union Bank of India and sent him back as General Manager (GM) of Punjab & Sind Bank. The government’s decision came amid the pending case against Dwivedi in Delhi High Court.
The court highlighted his appointment as ED of Union Bank of India, violating regulations due to the lack of vigilance clearance.
Dwivedi had been ceased as ED of Union Bank of India with immediate effect.
“we wish to inform you that the Central Government vide notification no. eF.No. 12/4/2024-BO.I dated June 24, 2025 has cancelled the appointment of Shri Pankaj Dwivedi as Executive Director of Union Bank of India and consequently he ceases to be the Executive Director of the Bank with immediate effect,” Union Bank of India announced in the press release.
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Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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