UCO Bank’s board has approved the proposal for raising of equity capital aggregating to Rs 3,000 crore during the financial year 2021-22. The fundraise can take place through various modes, such as follow on public offer (FPO), qualified institutional placement (QIP) and preferential issue, subject to necessary approvals from shareholders, government, RBI and Sebi. The board of directors of the bank, on May 27, 2021, has approved the proposal for the same.
UCO Bank is a commercial bank and a Government of India Undertaking. The Bank offers wide range of services includes Personal Banking, Corporate Banking, International Banking, Rural Banking and other services.