Uco Bank share price sinks 14% today; stock falls below QIP issue price

Uco Bank share price witnessed heavy selling pressure on Tuesday, April 1, 2025, pressured by massive volumes on the counter. The stock of Uco Bank crashed 13.5 per cent on the BSE in today's intraday trade, hitting a fresh 52-week low of ₹30.9 per share.

 

At 2:20 PM, the stock of the state-owned lender was quoting 11.8 per cent lower at ₹31.53 per share as against a 1,400-point (1.8 per cent) fall in the benchmark BSE Sensex index.

 

A total of 3.05 million shares have changed hands on the BSE, so far, in trade as against a two-week average volume of 0.59 million shares. Combined with the volume on the NSE, a total of 37.47 million shares have changed hands on the counter.

 

With today's fall, the stock price of Uco Bank has fallen below the bank's QIP issue price.

 

On March 27, 2025, Uco Bank approved the allotment of 583,600,803 (583.6 million) equity shares to eligible qualified institutional buyers (QIBs) at an issue price of ₹34.27 per equity share, aggregating to ₹199.99 crore.

 

Among the notable QIBs, Life Insurance Corporation of India was allotted 24.33 per cent of the total shares on offer, National Pension System (NPS) Trust was allotted 12.53 per cent shares, ICICI Prudential Life 12.17 per cent shares, and SBI Life Insurance 9.73 per cent shares.

 

The QIP opened on March 24, 2025 and closed on March 27, 2025. Further, following the fundraise via QIP route, the paid–up equity share capital of the Bank increased from ₹11,955.95 crore, comprising of 11,95,59,58,176 equity shares, to ₹12,539.55 crore, comprising of 12,53,95,58,979 equity shares, of face value of ₹10 each.

 

For the December quarter of FY25, Uco Bank reported a 27.04 per cent increase in net profit at ₹639 crore as against a ₹503-crore profit clocked in the corresponding period last year. Its operating profit grew to Rs 1,586 crore from Rs 1,119 crore Y-o-Y, while total income increased to Rs 7,406 crore from Rs 6,413 crore year-on-year.