UCO Bank and Punjab & Sind Bank Share Prices Hit 52-Week Low on April 2

UCO Bank has been in focus on Wednesday. On April 2, 2025, UCO Bank share price opened at ₹31.50, almost the same as its previous close of ₹31.20. At 10:26 AM, the share price of UCO Bank was trading at ₹30.93, down by 0.87% on the NSE. Notably, the stock price hit its 52-week low today at ₹30.62. 

Not just UCO Bank, but Punjab & Sind Bank was also seen declining. Punjab & Sind share price opened at ₹34.71, almost the same as its previous close of ₹34.86. At 10:34 AM, the share price of Punjab & Sind was trading at ₹32.74, down by 6.08% on the NSE. The stock price hit its 52-week low today at ₹31.86.  

The decline in share prices comes just after Punjab & Sind Bank’s significant fall on April 1, when it opened at ₹37.37 and dropped to a day’s low of ₹34.86. UCO Bank also saw a decline, opening at ₹34.27 before falling to ₹30.85. 

Recently, both the banks have made Qualified Institutional Placement (QIP) announcements.

UCO Bank’s QIP Allotment Details

On March 27, 2025, after market hours, UCO Bank announced that its Capital Raising Committee had approved the allotment of 583,600,803 equity shares to eligible qualified institutional buyers (QIBs). The shares were issued at ₹34.27 per share, aggregating to approximately ₹1,999.99 crore. The QIP, which opened on March 24, 2025, and closed on March 27, 2025, led to an increase in the bank’s paid-up equity share capital from ₹11,955.95 crore to ₹12,539.55 crore.

A significant portion of the QIP shares was allocated to the Life Insurance Corporation of India (LIC), which received 24.33% of the total shares issued.

Punjab & Sind Bank’s QIP Announcement

Punjab & Sind Bank also announced on March 27, 2025, that its Committee of Directors had approved the allotment of 31,77,98,773 equity shares to eligible QIBs. Most of these shares were issued to LIC and SBI Life Insurance Company, further increasing institutional ownership.

Conclusion

After the QIP-led dilution, both the stocks have been in focus. Investors will now closely watch the banks’ performance post-QIP.

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