Union Bank of India to discuss for capital raising through Public Issue
State owned Union Bank of India has disclosed through exchanges a prior intimation of the meeting of the Board of Directors of the Bank to discuss the fundraise through public issue.
State owned Union Bank of India has disclosed through exchanges a prior intimation of the meeting of the Board of Directors of the Bank to discuss the fundraise through public issue.
According to the filing, a meeting of the Board of Directors of the Bank is scheduled to be held on Wednesday, 25th June 2025, inter-alia:
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To discuss and approve the capital plan of the Bank to raise capital by any mode such as raising of Equity Capital through Public Issue - (i.e. Further Public Offer) and/or Rights Issue, and/or Private Placements including Qualified Institutions Placement and/or Preferential Allotment or a combination(s) thereof to any eligible institutions and/or through any other mode(s) and issue of Basel III compliant Additional Tier 1 Bonds & Tier 2 Bonds (including foreign currency denominated AT1/Tier 2 Bonds) through Private Placements subject to approval of the Government of India and other regulatory authorities.
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The public sector bank has earlier also issued equity shares to raise funds.
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