State-run Union Bank of India has approved a proposal to raise capital of up to Rs 8,000 crore through a mix of equity and debt instruments aimed at supporting business growth and strengthening its capital base.
The PSU lender plans to raise up to Rs 3,000 crore through equity capital in one or more tranches via public issue, rights issue, private placement including qualified institutional placement (QIP), preferential allotment, or a combination of these routes, subject to approvals from the Government of India, shareholders, and other regulatory authorities.
