Union Bank of India has successfully raised ₹3,000 crore through the issuance of long-term bonds aimed at financing infrastructure and affordable housing projects. The bond issue, which opened and closed on 20th March 2026, attracted significant interest from Qualified Institutional Buyers, resulting in an oversubscription of 3.12 times against the base issue size of ₹3,000 crore.
The bank received total bids amounting to ₹9,379.82 crore, highlighting the strong demand for these bonds. Despite the high level of interest, Union Bank of India decided to accept bids only up to the base issue size of ₹3,000 crore. The bonds were issued at a cut-off coupon rate of 7.16% per annum.
The bonds are characterised as senior, rated, listed, unsecured, redeemable, taxable, and transferable long-term fully paid-up non-convertible bonds in the nature of debentures. A total of 3,00,000 bonds, each valued at ₹1,00,000, were issued.
The deemed date of allotment for these bonds is set for 24th March 2026. The issuance was conducted through the NSE Electronic Bidding Platform, where 48 bids were received, and 14 were accepted.
This fundraising initiative is part of Union Bank of India’s strategy to bolster its financial resources for infrastructure and affordable housing projects, reflecting its commitment to supporting economic development through strategic investments.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).