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United Bank of India IPO (United Bank of India IPO) Detail

February 23, 2010 - February 25, 2010

United Bank of India IPO is a book built issue of Rs 324.98 crores.

United Bank of India IPO bidding started from February 23, 2010 and ended on February 25, 2010. The shares got listed on BSE, NSE on March 18, 2010.

United Bank of India IPO price band is set at ₹60 to ₹66 per share. The minimum lot size for an application is 100 Shares. The minimum amount of investment required by retail investors is ₹6,600.

Edelweiss Financial Services Ltd, Axis Capital Limited and SBI Capital Markets Limited are the book running lead managers of the United Bank of India IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to United Bank of India IPO RHP for detailed information.

United Bank of India IPO Details

IPO Date February 23, 2010 to February 25, 2010
Listing Date March 18, 2010
Face Value ₹10 per share
Price Band ₹60 to ₹66 per share
Lot Size 100 Shares
Total Issue Size50,000,000 shares
(aggregating up to ₹324.98 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

United Bank of India IPO Reservation

United Bank of India IPO offers 50,000,000 shares. 28,500,000 (57.00%) to QIB, 4,750,000 (9.50%) to NII, 14,250,000 (28.50%) to RII, 2,500,000 (5.00%) to employees. 142,500 RIIs will receive minimum 100 shares and (sNII) and (bNII) will receive minimum 3,100 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered28,500,000 (57.00%)NA
NII (HNI) Shares Offered4,750,000 (9.50%)
Retail Shares Offered14,250,000 (28.50%)142,500
Employee Shares Offered2,500,000 (5.00%)NA
Total Shares Offered50,000,000 (100%)

United Bank of India IPO Lot Size

Investors can bid for a minimum of 100 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 100 ₹6,600
Retail (Max) 30 3000 ₹198,000
Lot Size Calculator

About United Bank of India

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's business is principally divided into retail banking, corporate / wholesale banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance and mutual fund distribution, pension and tax collection services. Their retail banking business provides financial products and services to retail customers. United Bank provide loans and advances for housing, trade, automobiles, consumer durables, education, personal loans and other retail products. Also they provide commercial banking products and services to corporate customers, including mid-sized and small businesses and government entities. They offer direct financing to farmers for production and investment, as well as indirect financing for infrastructure development and credit to suppliers of agricultural inputs.

In Fiscal 2009, company made a net profit of Rs. 358.55 crore and had net assets of Rs. 61,500.78 crore and net worth of Rs. 2,537.83 crore. As of September 30, 2009, they made a net profit of Rs. 231.10 crore and had net assets of Rs. 71,952.25 crore and net worth of Rs. 2,769.87 crore. They have experienced growth in deposits and advances, with deposits growing at a compounded annual rate of 21.1% during the last five fiscal years and net advances growing at a compounded annual rate of 32.8% during the same period.

Company Financials

ParticularsFor the year/period ended (Rs.in Crore)
30-Sep-0931-Mar-0931-Mar-0831-Mar-0731-Mar-06
Total Income2,775.634,802.734,022.803,172.772,796.99
Profit After Tax (PAT)231.10 358.55145.11267.28204.56

Objects of the Issue (United Bank of India IPO Objectives)

The objects of the Issue are:

1. 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
2. For meeting the expenses of the Issue.


United Bank of India IPO Subscription Status (Bidding Detail)

The United Bank of India IPO is subscribed 33.38 times on February 25, 2010 7:00:00 PM. The public issue subscribed 9.80 times in the retail category, 47.08 times in the QIB category, and 39.15 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB47.08
NII39.15
Retail9.80
Employee0.53
Total33.38

United Bank of India IPO Grading / Rating

ICRA has assigned an IPO Grade 3 to United Bank of India IPO. This means as per ICRA, company has average fundamentals. ICRA assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the ICRA IPO Grading Document for United Bank of India.

United Bank of India IPO Prospectus

United Bank of India IPO Rating

333
4.0
Rating:Rated 4.0 stars
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United Bank of India IPO Listing Details

Listing Date March 18, 2010
BSE Script Code 533171
NSE Symbol UNITEDBNK
ISIN INE695A01019
Final Issue Price ₹66 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE
₹66.00
₹77.00
₹68.10
₹77.00
₹68.80
NSE
₹66.00
₹74.90
₹68.00
₹77.00
₹68.65

Check IPO Performance…

United Bank of India Contact Details

United Bank of India
United Bank of India,
11, Hemanta Basu Sarani,
Kolkata - 700 001, West Bengal
Phone: 91 33 2248 7472
Email: investors@unitedbank.co.in
Website: http://www.unitedbankofindia.com

United Bank of India IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: ubi.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

United Bank of India IPO - Buy or Not

United Bank of India IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 2 0 0
Members 0 0 0

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United Bank of India IPO FAQs

United Bank of India IPO is a main-board IPO of 50,000,000 equity shares of the face value of ₹10 aggregating up to ₹324.98 Crores. The issue is priced at ₹60 to ₹66 per share. The minimum order quantity is 100 Shares.

The IPO opens on February 23, 2010, and closes on February 25, 2010.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The United Bank of India IPO opens on February 23, 2010 and closes on February 25, 2010.

United Bank of India IPO lot size is 100 Shares, and the minimum amount required is ₹6,600.

You can apply in United Bank of India IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for United Bank of India IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the United Bank of India IPO allotment status.

The United Bank of India IPO listing date is on March 18, 2010.
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United Bank of India IPO Message Board

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625 Comments

625. Ravi, Bangalore |   Link |  Bookmark |April 7, 2010 7:18:47 PM
United Bank 74.15- Target 74.8, 81.35, 85.75+. Stop-loss 68.

Stop-loss is important.

Validity: 29/04/2010. Fresh review required after validity period.
624. Rahul |   Link |  Bookmark |April 5, 2010 8:54:52 PM
624. BJ

Ask NEHA
623. BJ |   Link |  Bookmark |April 3, 2010 10:39:45 AM
when will this reach 80 :(
622. CNU |   Link |  Bookmark |April 1, 2010 1:45:36 PM
Yeah, nearly 5% up good move
621. Raghu |   Link |  Bookmark |April 1, 2010 12:18:03 PM
Finally UBI has started moving!!!
620. IPOEXPERT |   Link |  Bookmark |March 29, 2010 1:05:04 AM
GET READY FOR UPSIDE FOR UNITED BANK STARTING FROM TOMMORROW.
BUY AT 67.35 TARGET OF 72 THEN 78-80 KEEP A STOP LOSS OF 65 RS.

BOTH UNITED BANK ARE CENTRAL BANK LOOK GOOD TO BUY CONSIDERING THE FACT ALL LARGE BANKS HAVE STARTED AN UPMOVE SO NOW ITS CHANCE FOR MID CAP AND SAMLL CAP BANKS
619. Gane |   Link |  Bookmark |March 28, 2010 9:43:09 PM
I am holding 166 shares in UBI. This is also good bank and I am sure it will go close to 85-90 rupees soon. But I am not very sure about the downfall of this stock at this moment. I expect that to be happened on the listing day itself.

Anybody has some idea about what is going on? Is it good to wait for sometime?

Gane.
618. Raghu |   Link |  Bookmark |March 26, 2010 5:16:08 PM
It's not only with United bank, Gov is planning UCO bank FPO in April and they are planning to Price the FPO price around Rs.66. The stock is available at 56 in the current market.

In CNBC, during the show, when they asked about this price variations, the CMD of the bank is convincing that,it is just a 400 crore issue and people are ready to accept the price. He is telling that issue will go through successfuuly and confident about it.

They are thinking that we are fools to accept at what ever price they offer. Friends be very careful with this gov FPO's and IPO's.
617. Amar |   Link |  Bookmark |March 26, 2010 4:52:44 PM
All Banking are going up, both from private and public sector.
But United Bank of India, is the only stock that is falling. This happened yesterday too.

It's looks like fundamentally something is wrong with this bank. Every analyst is telling it is undervalued, but no any big investor is ready to buy even at these levels.

This tells that analyst are wrong in evaluating the stock P/E's. It seems to be fully priced in and stock is likely to settle around 60.

This is likely to underperform for few months before it can take off.

Very disappointed with this stock performance :(
616. RJ |   Link |  Bookmark |March 26, 2010 12:08:19 PM
Thank you Mr Ravi, Bangalore for your analysis.
615. Ravi, Bangalore |   Link |  Bookmark |March 25, 2010 6:50:49 PM
United Bank 68.35- Target 64-62 zone, 60-56 zone or even below 53.

It will become neutral on close above 71.

Fundamental Value seen at 88, probably in 6 - 9 months.
614. toshniwal |   Link |  Bookmark |March 24, 2010 9:49:13 PM
Thanks GEM
What do you think abt. NMDC?
At what prise, I must exit.
613. GEM IPO FINDER |   Link |  Bookmark |March 24, 2010 11:57:39 AM
TOSHNIWAL
HOLD AT LEAT 80 IN 1-2 MONTHS, I HAVE ALSO BOUGHT 1200 SHARES @67.05 AND IPO 1000 SHARES I WILL NOT EXIT BELOW 85-90 I M MAY GET THAT PRICE 3-6 MONTHS
612. toshniwal |   Link |  Bookmark |March 23, 2010 10:00:05 PM
GEM/Shreedhar ji
I am holding one hundred shares each in two demat a/c
Should I hold these alloted shares or exit at current rates?
Let me know about the short term out look????????
611. Kaka Kahin |   Link |  Bookmark |March 23, 2010 11:32:30 AM
hamar e kahna he ki neha madam aur tulsiyanji ki shadi kara di jaye koki dono ek hi thali k chatte batte he
610. Dipak |   Link |  Bookmark |March 22, 2010 4:41:47 PM
Nihar behenji,
U pls don't behave like don****.
Some boaders are in love with u..
Jai hoo Delhi High court ki.
609. ABC |   Link |  Bookmark |March 22, 2010 2:03:18 PM
UBI would also become like NHPC or what???

ALready after listing the repo & reverse rapo is increaded so chances of going up are less now

Be aware friends
608. IMRAN |   Link |  Bookmark |March 20, 2010 11:51:41 PM
Hi Friends Mein HOLD KAR RAHA HU AGAR NICHE AAYA TO LONG TURM HOLD KARUNGA LEKIN 30 % profit k bhina nahi niklunga jitna time rukunga utna he profit TGT jyada hoga mera UBI achi bank hai Eak saal mein pakka 2 times hoga
607. STUPID NEHA AND VISHU |   Link |  Bookmark |March 20, 2010 9:02:35 PM
Don't fight guys, gals and gays.
606. STUPID NEHA |   Link |  Bookmark |March 20, 2010 8:51:21 PM
Sorry for writing message on name of vishu below. I have sold all my shares and wanted everyoe not to sell share so that it does not go down and i can sell this stock as i know all psu banks like indian bank and central bank are going to go down.

sorry vishu.