With reference to the earlier letter dated October 04, 2016, UCO Bank has now informed that Board of directors of the Bank approved the proposal for issue of 71,700,000 equity shares of Rs 10 each on preferential basis to Life Insurance Corporation of India at an issue price to be determined in accordance with SEBI ICDR Regulations, 2009. Above proposal has been approved by the directors through circulation.
The above information is a part of company’s filings submitted to BSE.