UPDATE 4-UTS shareholders cool to sweetened Total bid

* Total raises bid to C$1.75/shr from C$1.30

* Two major shareholders reject new offer

* UTS shares rise C$0.01 to C$1.81 (Adds company comments; updates UTS share price)

By Scott Haggett

CALGARY, Alberta, April 13 (Reuters) - Total SA (TOTF.PA) boosted its hostile takeover offer for UTS Energy Corp (UTS.TO) by more than a third to C$1.75 a share on Monday, though its sweetened offer was quickly branded as inadequate by some of the Canadian oil sands developer's biggest shareholders.

Total's new C$829.9 million ($674.7 million) bid is up from the C$1.30 a share offer the French oil major made in late January as it looked to boost its stake in Canada's oil sands, which have the biggest oil reserves outside the Middle East.

The initial bid was rejected by UTS and ignored by its shareholders, who said Total didn't offer enough for the company, whose biggest asset is a 20 percent stake in Petro-Canada's (PCA.TO) planned Fort Hills oil sands project in northern Alberta.

The new bid is also being panned by some of the Canadian firm's biggest shareholders. West Face Capital, which holds about 12 percent of UTS's shares, and IG Investment Management, which has about 3.8 percent, both say the new offer is inadequate.

"This appears to be a waste of time," said Dom Grestoni, managing partner at IG Investment. "Our opinion is unchanged, we won't be tendering."