United Bank of India IPO : Opening on 23rd Feb 2010

by khalid on 21/02/2010 · 4 comments

United Bank of India, is government-owned and one of India’s major commercial banks. The Bank has branches in 28 States and in 4 Union Territories in India. The Bank had 1484 branches, 265 ATMs, 28 regional offices and 11 extension counters. United Bank is in the process of opening a representative office in Dhaka, Bangladesh. United Bank of India is one of the 14 banks which were nationalized on 19th July 1969.

The Bank is entering in the capital markets with an initial public offering (IPO) of 50 million Equity Shares of Rs. 10 each for cash, at a premium to be decided through a 100% Book Building Process . The price band for the issue has been fixed at Rs 60 at lower level and Rs 66 at upper level.

The IPO is going to open on 23rd February 2010, and will closed for subscription on 25th February 2010. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The proceeds of the IPO will be used by the Bank to augment capital base to meet the future capital requirements arising out of the growth in their assets due to the growth of the Indian economy and for meeting the expenses of the Issue.

Issue Detail:-
Issue Period : 23rd Feb 2010 – 25th Feb 2010
Issue Type : 100% Book Building process
Issue Size : 5000000 Equity Shares of Rs 10 each (Rs. 300 – 330 Crores)
Face Value : Rs 10 Per Equity Share
Price Range : Rs 60 – Rs 66 Per Equity Share
Market Lot : 100 shares
Minimum Order Quantity : 100 shares
IPO Grading / Rating : 3 out of 5 (ICRA)
Listing At : BSE and NSE

Book Running Lead Manager(s) to the issue are Edelweiss Capital Limited and SBI Capital Markets Limited.

Registrar of the Issue is Link Intime India Private Ltd. Mumbai.

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reza.heidari March 20, 2010

dear sir
good time
for my money transfer to my account to iran saman bank code 9521
saman bank code 9521
account no=9521-740-1018609-1.
SWIFT CODE=SA BC IR TH A9 ZE

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