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UCO Bank to issue preference shares to govt for Rs.1,375 crore

UCO Bank has received approval from its board, for a proposal to issue equity shares on preferential basis, to the government for capital infusion of Rs.1,375 crore.

In a BSE filing the company stated, “We have received the approval of Board of Directors…for the proposal to issue equity shares on preferential basis to Government of India against capital contribution of Rs.1,375 crore subject to necessary approvals.”

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