scorecardresearchUCO Bank to raise up to ₹1,000 crore by issuing bonds

UCO Bank to raise up to 1,000 crore by issuing bonds

Updated: 28 Dec 2022, 07:07 PM IST
TL;DR.
  • 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 1,000 crore, UCO Bank said in a regulatory filing.
The board is scheduled to meet on January 3, 2023 to take up the fund raise proposal.

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

New Delhi, Dec 28 (PTI) State-owned UCO Bank on Wednesday said it is planning to raise up to 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 1,000 crore, UCO Bank said in a regulatory filing.

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

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

 

Article
We explain what can banks do to the stressed loans.
First Published: 28 Dec 2022, 07:07 PM IST