UCO Bank informed that the meeting of the board of directors of the bank is scheduled on 27 May 2021 to consider and approve equity capital raising plan for the financial year 2021-22.
The fund raising will be through various modes such as Follow on Public Offer (FPO), Qualified Institutional Placement (QIP), Preferential issue etc.
The announcement was made after market hours on Friday, 21 May 2021. Shares of UCO Bank rose 1.36% to settle at Rs 12.70 on Friday, 21 May 2021.
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.
As of 31 March 2021, the Government of India held 94.44% stake in the bank.
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