Thursday, February 18, 2010

United Bank of India IPO opening on Feb 23 to Feb 25

United Bank of India is a public sector banking institution with branches in 28 States and in 4 Union Territories in India. The Bank is currently wholly-owned by the Government of India. As of December 18, 2009, they had 1,484 branches, 265 ATMs, 28 regional offices and 11 extension counters. United Bank is in the process of opening a representative office in Dhaka, Bangladesh. As of December 18, 2009, company had a workforce of 15,813 employees (including part-time employees). United Bank of India is one of the 14 banks which were nationalised on July 19, 1969.


United Bank of India is entering in the capital markets with an initial public offering, IPO of 50,000,000 Equity Shares of Rs. 10 for cash, at a premium to be decided through a 100% Book Built Issue. The price band for the issue has been fixed at Rs 60/- at lower level and Rs 66/- at upper level for equity share of Rs 10/-.


The issue opens on February 23, 2010, and closes for subscription on February 25, 2010. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).


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United Bank of India IPO
United Bank of India IPO Allotment Status
United Bank of India IPO Listing Date

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