Wednesday, 10 May 2017

UCO Bank plans to raise Rs 75 cr capital

State run UCO Bank on Tuesday said it is planning to raise Rs 75 crore of equity capital during the current financial year in one or more tranches. The bank's board in its meet scheduled to be held on next Friday will consider the proposal of raising equity capital. "The Board of Directors of our bank at its meeting scheduled to be held on May 12, 2017, will, inter alia, consider the proposal for issue of Rs 75 crore equity shares during the financial year 2017-18 in one or more tranches through FPO (follow-on public offer), QIP (Qualified institutional placement)/ preferential issue/ESOPs (employee stock ownership plans) etc., at such an issue price to be determined in accordance with the external guidelines,".

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