Luthra And Luthra Law Offices India Advised UCO Bank On INR 2,000 Crore Qualified Institutions Placement

Luthra And Luthra Law Offices India Advised UCO Bank On INR 2,000 Crore Qualified Institutions Placement

Luthra and Luthra Law Offices India advised UCO Bank on its Qualified Institutions Placement (QIP) of 58,36,00,803 equity shares, aggregating to INR 2,000 crore. The fundraising is a significant step towards enabling the bank to meet the regulatory-mandated minimum public shareholding requirements.

The book running lead managers for the QIP were IDBI Capital Markets & Securities Limited, Anand Rathi Advisors Limited, Elara Capital (India) Private Limited, Systematix Corporate Services Limited, and Emkay Global Financial Services Limited.

The firm advised on structuring the issue, navigating applicable regulatory frameworks, and drafting key documents including the Preliminary Placement Document and the Placement Document.

The transaction was led by Akshit Kapoor (Partner) and Kshitij Asthana (Managing Associate).

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