State-owned Union Bank of India (NSEI:UNIONBANK) on June 11, 2024 approved a proposal to raise INR 100,000 million, including INR 60,000 million from share sale, to fund its business growth. The board approved raising equity capital not exceeding INR 60,000 million in tranche(s) within the overall limit of INR 100,000 million through public issue -- further public offer or rights issue or QIP, Union Bank of India said in a regulatory filing. This would be subject to the approval of the government, other regulatory authorities and shareholders' approval, it added.
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