Analysis and Insights into the world of IPOs and investing in India

Tuesday, February 23, 2010

United Bank IPO opens for subscription

The Initial Public Offer (IPO) of United Bank of India, one of the 14 major banks which were nationalised on July 19, 1969, opens for subscription from today. The IPO consists of 5 Crore Equity Shares, having a Face Value of Rs.10/- each

The IPO comprises of a net issue of 4.75 Crore Equity Shares of Face Value of Rs.10/- each to the public and a reservation of 25 Lakh Equity Shares for subscription by eligible employees. The issue shall constitute 15.80% of the post issue paid-up capital and the net issue shall constitute 15.01% of the post-issue capital of the bank. Thus, post the stake dilution, government holding in the bank would stand at 84.2%

The IPO would remain open for subscription till Thursday, February 25, 2010. The day to day subscription status of the IPO will be posted here. Check back frequently for latest updates on United Bank of India IPO!
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