UCO Bank plans to raise Rs 2,000 crore via QIP in Q3

State-owned UCO Bank plans to raise up to Rs 2,000 crore through a share sale via qualified institutional placement in the December quarter. This move aims to comply with Sebi's minimum public shareholding norms, reducing the government's stake in the bank by 2-3 per cent.

Oct 19, 2024 - 21:00

UCO Bank plans to raise Rs 2,000 crore via QIP in Q3

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State-owned UCO Bank plans to raise up to Rs 2,000 crore through a share sale via qualified institutional placement in the December quarter. This move aims to comply with Sebi's minimum public shareholding norms, reducing the government's stake in the bank by 2-3 per cent.