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UCO Bank to Raise Up to Rs 1,000 Crore by Issuing Bonds

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Last Updated: December 28, 2022, 18:07 IST

UCO Bank stock on Wednesday closed at Rs 31.45 on BSE, down 2.93 per cent.

UCO Bank stock on Wednesday closed at Rs 31.45 on BSE, down 2.93 per cent.

UCO Bank’s board is scheduled to meet on January 3, 2023, to take up the fundraise proposal

State-owned UCO Bank on Wednesday said it is planning to raise up to Rs 1,000 crore by issuing debt securities. The bank’s board will consider the proposal for raising tier I capital in the form of additional tier I bonds in one or more tranches aggregating to Rs 1,000 crore, UCO Bank said in a regulatory filing.

The board is scheduled to meet on January 3, 2023 to take up the fundraise proposal.

UCO Bank stock closed at Rs 31.45 on BSE, down 2.93 per cent.

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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)

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