Thursday, September 4, 2008

UCO Bank FPO planned in December quarter

UCO Bank today unveils plans to raise around Rs 800 Crore through FPO this year. Bank's officials said that they are set and waiting for market to stable.

This fund-raising through FPO will reduce government share in Kolkata based UCO bank from 75% to around 53.8%.

Incorporated in 1943, UCO Bank is one of the oldest commercial bank in India. Bank has around 2000 branches across India.