Union Bank of India's Board of Directors, in a meeting held on June 25, 2025, approved convening the 23rd Annual General Meeting (AGM) of the shareholders.
The AGM will be held on Friday, 01st August 2025, at 11:00 a.m. IST, through Video Conferencing (VC) or Other Audio-Visual Means (OAVM).
The meeting is for the purpose of the AGM and payment of dividend.
Important calendar of events for shareholders include:
Cut-off date for participation in E-voting: Friday, 25th July 2025.
Book Closure period for the purpose of AGM and Dividend: Starts on Saturday, 26th July 2025, and ends on Friday, 01st August 2025 (both days inclusive).
Remote E-voting period: Starts on Tuesday, 29th July 2025 (9:00 a.m. IST) and ends on Thursday, 31st July 2025 (5:00 p.m. IST).
Last date and time for receipt of resolutions appointing Authorized Representatives: Saturday, 26th July 2025 (5:00 p.m. IST).
The Board of Directors of Union Bank of India approved a capital plan to raise up to ₹6,000 crore.
This includes raising equity capital up to ₹3,000 crore through various methods such as Public Issue (Further Public Offer), Rights Issue, Private Placements including Qualified Institutions Placements, and/or Preferential Allotment.
The fundraise is subject to the approval of the Government of India, other regulatory authorities, and the bank's shareholders.
The plan also includes raising Basel III compliant Additional Tier 1 (AT1) Bonds up to ₹2,000 crore and Tier 2 Bonds up to ₹1,000 crore (including foreign currency denominated AT1/Tier 2 Bonds).
Union Bank of India participated in an Investors/Analysts meet conducted by B&K Securities on 18th June 2025.
The representatives of the bank interacted with Enam Holdings Private Limited and ASK Long -Short Fund Managers Private Limited in person in Mumbai between 11:30 AM to 12:30 PM.
The bank referred to publicly available documents during discussions.