Axis Bank Regs Regulatory News (AXB)

23 Jul 2007 07:00

UTI Bank Limited22 July 2007 PRESS RELEASE UTI Bank successfully raises US Dollars 1050 million. Mumbai July 22, 2007: UTI Bank announced that it has successfully priced itsoffering of 14.13 million GDRs, aggregating USD 218.07 million. Each GDR,representing one underlying share, was priced at USD 15.43 and will be listed onthe London Stock Exchange. This represents a discount of 1.7% to the closingprice of the Bank's GDR on Friday, July 20. In addition, the Bank has determined the Issue Price of the equity shares to beoffered in the proposed Qualified Institutional Placement (QIP) to be Rs. 620per share. The size of the QIP will be Rs 1,752 crores. Further, the Bank proposes to allot, on a preferential basis, 2,56,21,076 sharesto its promoters at Rs. 620 per share aggregating to Rs. 1,588 crores. The date of settlement for all 3 offerings will be July 27, 2007. Citi andGoldman Sachs acted as the Joint Bookrunners for the GDR and QIP offering. P. J. OZACompany Secretary This information is provided by RNS The company news service from the London Stock Exchange