Mumbai, July 22 (PTI): UTI Bank has priced its 14.13 million GDRs at $218.07 million. Each GDR was priced at $15.43 and would be listed on the London Stock Exchange, a bank statement said.

The bank has fixed its issue price for qualified institutional placement (QIP) at Rs 620 per share. The size of the QIP will be Rs 1,752 crore.

The bank proposes to allot 2.5 crore shares at Rs 1,588 crore to its promoters on a preferential basis.

UTI Bank has reported a 45.15 per cent rise in net profit at Rs 174.98 crore in the first quarter of this fiscal over the corresponding period in 2006-07. The growth in profit came on the back of improvement in the bank’s operations, particularly in fee-based and trading income, during the quarter.

The bank clocked a 344 per cent jump in income from trading operations (primarily securities transaction) at Rs 70.79 crore against Rs 15.93 crore in the year-ago period. Fee-based income went up 39 per cent to Rs 271.53 crore.

The bank’s other income grew 71 per cent to Rs 342.32 crore, while its net interest income (which reflects the profitability from mobilisation of loans and deposits) increased 39 per cent to Rs 446.83 crore.