UTI Bank issues bonds to raise CAR
By Our Banking Bureau | 12 Dec 2001
The issue-size is Rs 100 crore and the subscription is for Rs 112 crore. The bank has retained an additional Rs 12 crore as a green-shoe option.
The banks CAR, which had gone below the prescribed level of 9 per cent, was raised recently to 11.5 per cent by issue of preferential shares to CDC Capital partners, a foreign institutional investor. With the Rs 112-crore bonds issue, the banks CAR will improve further.