UTI Bank is likely to finalise a preferential issue in favour of Tata Sons at its board meeting on January 16. The holding firm of the Tata group is set to pick up 10 per cent in the bank.
CDC Capital Partners, a strategic investor which holds 24.2 per cent stake in the bank and which had earlier raised some objections to the preferential issue, is willing to accept the Tatas as an investor, sources said.
In the run-up to the meeting, the bank has asked all its employees to detest trading in the bank
