Union Bank of India is likely to mobilise about Rs 1,300 crore through Qualified Institutional Placement (QIP) in the first quarter of next financial year.
"We have got all approvals from Government and RBI but are waiting for market conditions to improve," the Executive Director, K Subrahmanyam, told newspersons after inaugurating an industrial finance branch here on Friday.
In addition, the bank has headroom for Rs 4,000 crore additional tier-I capital. "We are also not in the immediate need of capital," he added.