Active Stocks
Thu Mar 28 2024 14:39:26
  1. Tata Steel share price
  2. 156.40 2.32%
  1. HDFC Bank share price
  2. 1,457.95 1.20%
  1. ITC share price
  2. 431.35 0.78%
  1. Power Grid Corporation Of India share price
  2. 279.00 2.93%
  1. State Bank Of India share price
  2. 758.75 3.36%
Business News/ Market / Stock-market-news/  Uco Bank plans to raise capital by selling up to 750 million equity shares
BackBack

Uco Bank plans to raise capital by selling up to 750 million equity shares

Uco Bank could sell the shares in multiple tranches and is weighing several options including a FPO and sale of shares to employees

Uco Bank’s shares rose 0.7% to Rs42.65 apiece on Tuesday on the BSE in a flat market. Photo: MintPremium
Uco Bank’s shares rose 0.7% to Rs42.65 apiece on Tuesday on the BSE in a flat market. Photo: Mint

Kolkata: Public sector lender Uco Bank on Tuesday said its board will meet on Friday to consider raising capital by selling up to 750 million equity shares in the current fiscal year.

The bank’s shares rose 0.7% to Rs42.65 apiece on Tuesday on the BSE in a flat market.

At current market price, the proposed share sale would bring in around Rs3,200 crore of fresh capital which it needs to boost lending.

The bank said it could sell the shares in multiple tranches, and it is weighing several options including a follow-on public offer (FPO) and sale of shares to employees.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 09 May 2017, 09:50 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App