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State-owned UCO Bank today said it will sell 7.17 crore shares to LIC on a preferential basis, which may fetch about Rs 270 crore to the bank.
The board of the bank at its meeting has approved a proposal for issue of 7.17 crore shares of Rs 10 each to Life Insurance Corporation of India (LIC) on a preferential basis at a price to be determined in accordance with Sebi regulation, UCO Bank said in a statement.
