State-owned Uco Bank has fixed the price of its Rs 2000 crore qualified institutional placement at Rs 34.27 per equity share, the bank said Thursday.
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.
