Archive · 26 Jun 2025
Union Bank to Raise ₹6,000 Crore, Cancels Director's Appointment
Union Bank of India, a big bank, wants to get more money by selling stocks and bonds.
They plan to get about 6,000 crore rupees total.
Some money will come from selling new stock shares, and some will come from loans called bonds.
Also, the government decided that someone named Pankaj Dwivedi can no longer be a director.
The bank's stock price changed a little bit, but has done better over the past year.
Union Bank of India plans to raise up to Rs 6,000 crore through equity and debt.
The bank will raise up to Rs 3,000 crore via equity instruments, potentially including FPO, rights issue, or QIP.
The remaining Rs 3,000 crore will be raised through debt instruments, including AT1 and Tier 2 Bonds.
Union Bank of India's shares closed at Rs 144.40 on Wednesday, down 1.8%.
The Central government canceled Pankaj Dwivedi's appointment as Executive Director.
- Who
- Union Bank of India and Pankaj Dwivedi.
- What
- Union Bank of India announced plans to raise funds and the cancellation of an executive director's appointment.
- When
- The announcements were made on Wednesday and earlier in the week.
- Where
- Bombay Stock Exchange.
- Why
- To raise capital and due to a decision by the Central government.
- Fundraise Amount
- Rs 6,000 crore
- Equity Instruments
- Up to Rs 3,000 crore
- Debt Instruments
- Up to Rs 3,000 crore
- Share Price
- Rs 144.40
- Share Price Change
- -1.8%
- P/E Ratio
- 6.76
