UTI Bank to raise share capital to Rs 500 crore

Mumbai, Jun 25 (UNI) UTI Bank today annunced that it would enhance its authorised capital to Rs 500 crore from the present Rs 300 crore.

In a communication to the Bombay Stock Exhchange (BSE), the UTI Bank said the extra ordinary general meeting (EGM) passed a resolution to raise share capital of the Bank to Rs 500 crore by creation of 20 crore share of Rs 10 each.

The EGM of the Bank has also approved the change of memorandum of association and article of association pertaining to change in share capital.

However, the EGM deferred the special resolutions pertaining to raise capital and preferential allotment of shares till July 13 this year in order to provide further time to promoter shareholders.

UNI