Sunday, July 27, 2025
HomeBusinessUCO Bank plans to raise Rs 2,000 crore via QIP in Q3

UCO Bank plans to raise Rs 2,000 crore via QIP in Q3

-

[ad_1]

UCO Bank plans to raise Rs 2,000 crore via QIP in Q3

NEW DELHI, State-owned UCO Bank on Saturday said it is planning to raise up to Rs 2,000 crore through share sale during the December quarter. The plan to come out with Rs 1,500-2,000 crore qualified institutional placement in the current quarter as part of the strategy to meet minimum public shareholding (MPS) norms, UCO Bank Managing Director and CEO Ashwani Kumar said.
According to Sebi, all listed companies must maintain an MPS of 25 per cent.
The government’s stake in the bank will come down 2-3 per cent post-QIP, Kumar further said.
The Government of India’s stake in the Kolkata-based bank stood at 95.39 per cent at the end of September 2024.
Public sector banks (PSBs) and financial institutions have got time till August 2026 to comply with the minimum public shareholding norms.
Of the 12 PSBs, five are yet to comply with minimum public shareholding (MPS) norms and the government’s holding is beyond 75 per cent.
The board and the government’s approval is already in place for the share sale, and road show for the QIP will be undertaken soon, he said.
The lender’s capital adequacy ratio stood at 16.84 per cent with Tier I Capital Ratio of 14.59 per cent at the end of September.



[ad_2]

Source link

LATEST POSTS

Talk Fusion 2.0: The Smartest Business to Join in 2025

In today’s fast-paced digital economy, people are seeking smarter, faster, and more sustainable ways to generate income. As traditional job security fades and remote work...

How to Host a Tournament in 92 Pak Game

The Excitement of Organizing Your Own Tournament Hosting a tournament in the 92 Pak Game is more than just a competition—it’s a celebration of community, gaming...

Real Money Pokies Online Live Dealer Options

Real money pokies online have been a favorite among casino enthusiasts for years, offering thrilling gameplay and the chance to win actual cash prizes from...

Ceritafilm Explores the Heart of Every Movie Through Story Reviews

Introducing ceritafilm: Where Movies Meet Meaningful Stories In a world flooded with movie ratings, short reviews, and spoiler-filled discussions, https://ceritafilm.com stands out by offering something truly...

Most Popular

spot_img