(THE NEWSMAN OF INDIA.COM)
KOLKATA: (Apr 28) UCO Bank plans to issue up to 270 crore fresh equity shares in the 2025-26 fiscal to bring down the government’s stake to 75 per cent in compliance with SEBI’s minimum public shareholding (MPS) norms, a top official said on Monday.

The move follows the lender’s successful Qualified Institutional Placement (QIP) in the March quarter, during which it raised Rs 2,000 crore, reducing the government’s shareholding to 90.95 per cent from 95.39 per cent.

“We plan to issue up to 270 crore shares of Rs 10 each to further dilute the government’s holding to 75 per cent in FY’26,” UCO Bank MD and CEO Ashwani Kumar told PTI.