Moneycontrol
Nov 30, 2016 07:48 AM IST IST | Source: PTI

UCO Bank raises Rs 270 crore via preference shares to LIC

Public sector UCO Bank has raised Rs 270.59 crore by issuing over 7 crore shares to LIC on preferential basis.


Public sector UCO Bank has raised Rs 270.59 crore by issuing over 7 crore shares to LIC on preferential basis.


"Bank has issued and allotted 7,17,00,000 shares of Rs 10 each to Life Insurance Corporation of India at an issue price of Rs 37.74 per share, including a premium of Rs 27.74 on preferential basis," it said in a regulatory filing.


The above shares will be under lock-in for one year from the date of trading from the stock exchanges -- NSE and BSE -- where the shares of the bank are listed, it added.


The stock closed 1.05 per cent higher at Rs 33.65 on BSE.

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