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Union Bank of India today said it will raise Rs 2,000 crore through various instruments, including rights issue and private placement.
The state-owned lender's committee of directors at its meeting today approved the capital raising issue.
"The committee... Has resolved and approved raising of equity capital through public issue (follow-on public offer) and/or rights issue and/or private placement, including qualified institutional placement for an amount of up to Rs 2,000 crore in first tranche during 2017-18," the bank said in a regulatory filing.
The stock today closed 0.53 per cent down at Rs 141.75 on the BSE.
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