Kolkata, Sept 01: UCO Bank chairman V P Shetty said today he is confident that the bank's public offering of shares that opens on September 3 would receive a good response from banks and financial institutions. The IPO is expected to generate Rs 240 crore.
"We have already made presentation to all the leading FIs and banks and also one to one interaction with chiefs of some and expect to get very favourable response from them," Shetty told reporters here.
UCO Bank's IPO of 20 crore equity shares of Rs 10 each for cash at a premium of Rs two per share closes on September 10. Ten per cent of the total offering has been reserved for employees. NRIs could also participate in the issue on non-repatriable basis to the debit of their accounts held in India.
"NRIs could send rupee draft payable in India and they can also purchase shares. In case of non-allotment, the money would be returned to NRIs, but the exchange risk will be with them," executive director B K Datta said. Bureau Report