UTI Bank is likely to finalise the preferential allotment of 15-20 per cent of its equity by the end of February. The bank might make a preferential allotment of 10 per cent to Tata Sons and the remaining to an overseas investor, sources familiar with the development said.
The bank was expected to finalise the allotment to Tata Sons at its board meeting on Thursday.
However, it has now been decided that the bank will make a preferential allotment of 15-20 per cent stake at one go rather than in tranches.
UTI Bank Chairman and Managing Director P J Nayak said,