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UCO Bank inks pact to acquire 3% stake in IDRCL

11 Mar 2022 Evaluate

UCO Bank has entered into an agreement to acquire 3 per cent stake in India Debt Resolution Company (IDRCL). The acquisition will be for a cash consideration of Rs 1.50 crore. The bank's holding in the company will be 3 per cent, therefore no approval is required. The acquisition will be completed within 10 working days from the date of agreement that is March 09, 2022.

IDRCL is a public sector asset rehabilitation agency where the stressed assets of the public sector undertaking can be transferred. PSUs can transfer the stressed assets to the agency, hence cleaning up their books. The intent of setting up of such an agency is to speed up the resolution process and maximising recoveries.

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.

UCO Bank Share Price

26.76 0.21 (0.79%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SBI 1080.35
PNB 114.50
Canara Bank 142.35
Bank Of Baroda 280.00
Union Bank Of India 188.90
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