UCO Bank to raise up to ₹1,000 crore by issuing bonds

State-owned UCO Bank on Wednesday said it is planning to raise up to ₹1,000 crore by issuing debt securities. The bank's board will consider the proposal for raising tier I capital in the form of additional tier I bonds in one or more tranches aggregating to ₹1,000 crore, UCO Bank said in a regulatory filing.

The board is scheduled to meet on January 3, 2023, to take up the fundraise proposal.

UCO Bank stock closed at ₹31.45 on BSE, down 2.93 per cent.

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