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Mumbai, July 13 UTI Bank has got a nod from its board of directors to raise Tier-I capital through Qualified Institutional Placement and Global Depository Receipts issues.

The bank has informed the Bombay Stock Exchange that at the EGM held on Friday, the shareholders have given approval for raising capital through QIP issue of 2.83 crore shares and GDR issue of 1.41 crore shares.

The bank also plans to offer to its promoters up to 3.19 crore equity shares on a preferential basis. UTI Bank plans to raise about Rs 4,000 crore by way of QIP issue, GDR issue and preferential offer to existing shareholders.

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