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Uco Bank, 2 more likely to tap QIPs this yr
Hindustan Times Lucknow
|February 12, 2025
Three state-owned banks may sell shares to financial institutions in the coming fiscal year to raise capital and increase public shareholding to the minimum levels set by the stock market regulator, two people aware of the discussions said.
NEW DELHI:
The government owns over 95% in Uco Bank, Punjab & Sind Bank (PSB) and Indian Overseas Bank (IOB), with public investors holding the rest. India's minimum public shareholding (MPS) rules require all listed companies to have at least 25% public shareholding.
Depending on market conditions, the three banks may conduct several rounds of qualified institutional placements (QIPs) in FY26 as part of a phased approach to meeting regulatory requirements, the people said on the condition of anonymity.
Cette histoire est tirée de l'édition February 12, 2025 de Hindustan Times Lucknow.
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