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UCO Bank to issue 270 crore equity shares in FY'26 to cut govt stake to 75pc
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....CO Bank to issue 270 crore equity shares in FY'26 to cut govt stake to 75pc<BR>PTI News<BR>Dated:- 28-4-2025<BR>PTI<BR>Kolkata, Apr 28 (PTI) UCO Bank plans to issue up to 270 crore fresh equity shares in the 2025-26 fiscal to bring down the government's stake to 75 per cent in compliance with SEBI’s minimum public shareholding (MPS) norms, a top official said on Monday. The move follows the len....
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....der's successful Qualified Institutional Placement (QIP) in the March quarter, during which it raised Rs 2,000 crore, reducing the government’s shareholding to 90.95 per cent from 95.39 per cent. “We plan to issue up to 270 crore shares of Rs 10 each to further dilute the government's holding to 75 per cent in FY'26,” UCO Bank MD and CEO Ashwani Kumar told PTI. Based on the current market ....
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....price of around Rs 31 per share, the total issue may be valued at around Rs 8,000 crore. In the recent QIP, the bank allotted shares to a diverse set of investors, enhancing its capital adequacy. UCO Bank, headquartered in Kolkata, has been focusing on improving its asset quality and boosting profitability over the last few years. The lender on Monday reported a nearly 24 per cent year-on-year j....
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....ump in consolidated net profit to Rs 665.72 crore for the quarter ended March. Kumar said the bank has not received any “retail delinquency pressure” and its net NPA in the segment remains at 0.7 per cent. The RBI, in its Financial Stability Report in December, had raised concerns over the growing risks in the retail lending segment. PTI BSM RBT<BR> News - Press release - PIB....