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Union Bank plans Rs 8,000 crore fund raise, board clears Rs 3,000 crore equity issue
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Union Bank of India has greenlit a substantial capital raise, aiming to secure up to Rs 8,000 crore. This strategic move involves issuing debt instruments, including Basel III-compliant bonds, to the tune of Rs 5,000 crore. Additionally, the bank plans to bolster its equity by Rs 3,000 crore through various public and private offerings. What's Your Reaction?
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