UTI Bank raises Rs 500cr via NCDs

UTI Bank has raised Rs 500 crore by issuing unsecured, subordinated, redeemable non-convertible debentures of Rs 10 lakh each.

According to a release issued by the bank to the BSE today, the subscription to the issue was closed on July 19, 2005 as against the offer document schedule that had said the issue will remain open between July 19, 2005 and July 21,2005.

"The effective deemed date of allotment will be July 25, 2005 as mentioned in the term sheet for the issue," the release added.