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The price, fixed at a premium of Rs 24.27 over the face value of Rs 10 per equity share, was at a discount of 4.99% to the floor price of Rs 36.07 per equity share, the lender said in a regulatory filing to the stack exchanges.
The QIP would help the bank reduce the government stake to about 3% from the current holding of 95.39%.
Uco’s share price closed Thursday 1.92% higher at Rs 36.68 on BSE.
A couple of days back, Indian Overseas Bank raised Rs 1437 crore by selling shares to institutional investors at Rs 40.57 per share, also at a 5% discount over the floor price.
The Central Bank of India is also in the process of raising equity capital via the QIP route.
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https://economictimes.indiatimes.com/markets/stocks/news/uco-bank-fixes-qip-price-at-rs-34-37-per-share/articleshow/119604263.cms
