UCO Bank receives Rs. 775 crores infusion of Capital by Central Government

UCO Bank receives Rs. 775 crores infusion of Capital by Central GovernmentUCO Bank has received Rs. 775 crores (rounded off) from the Central Government towards preferential allotment of 18,69,72,255 equity shares of Rs. 10/- each at a price of Rs. 41.45 per share under Chapter VII of the SEBI (issue of Capital & Disclosure Requirements) Regulations 2009 (SEBI ICDR Regulations).

The amount has been deposited in the 'Share Application Money A/c' pending receipt of regulatory approvals for appropriation towards allotment money. The Bank will endeavour to complete the allotment process according to the timeline prescribed under SEBI ICDR Regulations after receipt of all regulatory clearances.

Shares of UCO BANK was last trading in BSE at Rs.38.2 as compared to the previous close of Rs. 37.7. The total number of shares traded during the day was 850519 in over 3896 trades.

The stock hit an intraday high of Rs. 40.7 and intraday low of 37.4. The net turnover during the day was Rs. 32971466.

Source : Equity Bulls

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