UCO Bank board approves fund raising proposal of Rs. 3000 crore

The Board of Directors of UCO Bank, at its meeting today, i.e. 27.05.2021, have approved the proposal for raising of equity capital aggregating to Rs.3000 crore during the financial year 2020-21 through various modes such as Follow on Public Offer (FPO), Qualified Insitutional Placement (QIP), Preferential issue etc., subject to necessary approvals from shareholders, Govt. of India, RBI and SEBI.

The above proposal of raising of equity capital will be placed in the ensuing Annual General Meeting of the Bank for the year 2020-21 for seeking the shareholders' approval.

Shares of UCO BANK was last trading in BSE at Rs.13.15 as compared to the previous close of Rs. 12.97. The total number of shares traded during the day was 2855302 in over 5086 trades.

The stock hit an intraday high of Rs. 13.35 and intraday low of 12.61. The net turnover during the day was Rs. 37607958.

Source : Equity Bulls

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