ALSO READUCO Bank gains on fund raising proposal Central Bank to raise Rs 157 cr by issuing shares to LIC Allahabad Bank allots equity shares to Life Insurance Corporation of India P & GS Fund United Bank of India to raise Rs 300 cr, Q2 profit slumps IndiaFirst Life Insurance partners Nainital Bank
Public sector UCO Bank has raised Rs 270.59 crore by issuing over 7 crore shares to LIC on preferential basis.
"Bank has issued and allotted 7,17,00,000 shares of Rs 10 each to Life Insurance Corporation of India at an issue price of Rs 37.74 per share, including a premium of Rs 27.74 on preferential basis," it said in a regulatory filing.
The above shares will be under lock-in for one year from the date of trading from the stock exchanges -- NSE and BSE -- where the shares of the bank are listed, it added.
The stock closed 1.05 per cent higher at Rs 33.65 on BSE.
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