The board of the state-run bank approved raising equity capital aggregating to Rs 3000 crore during the financial year 2020-21.
The bank will raise the fund through various modes such as follow on public offer (FPO), qualified institutional placements (QIP), preferential issue etc. subject to necessary approvals, the bank said in a statement today, 23 July.The bank will seek shareholders' approval for the same at the annual general meeting on 7 August 2020.
Shares of UCO Bank were trading 0.21% higher at Rs 14.17 on BSE.
UCO Bank is a commercial bank. Its segments include treasury, corporate/wholesale banking, retail banking and other banking operations. It offers personal banking, corporate banking, international banking and rural banking services.
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