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.
| Particulars | For the year/period ended (Rs.in Crore) | ||||
| 30-Sep-09 | 31-Mar-09 | 31-Mar-08 | 31-Mar-07 | 31-Mar-06 | |
| Total Income | 2,775.63 | 4,802.73 | 4,022.80 | 3,172.77 | 2,796.99 |
| Profit After Tax (PAT) | 231.10 | 358.55 | 145.11 | 267.28 | 204.56 |
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.
| Issue Open | Feb 23, 2010 - Feb 25, 2010 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 50,000,000 Eq Shares of ₹10 (aggregating up to ₹324.98 Cr) |
| Face Value | ₹10 Per Equity Share |
| Issue Price | ₹60 to ₹66 Per Equity Share |
| Market Lot | 100 Shares |
| Min Order Quantity | 100 Shares |
| Listing At | BSE, NSE |
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 100 | ₹6,600 |
| Maximum | 30 | 3000 | ₹198,000 |
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.
Check IPO Ratings from other stock analysts.
No. of Times Issue Subscribed (BSE + NSE) | |||||
|---|---|---|---|---|---|
As on Date & Time | QIB | NII | RII | Employee | Total |
Shares Offered | 28,500,000 | 4,750,000 | 14,250,000 | 2,500,000 | 50,000,000 |
Feb 25, 2010 19:00 | 47.08x | 39.15x | 9.80x | 0.53x | 33.38x |
| Listing Date | Thursday, March 18, 2010 |
| BSE Script Code | 533171 |
| NSE Symbol | UNITEDBNK |
| Listing In | B |
| ISIN | INE695A01019 |
| Issue Price | ₹66 Per Equity Share |
| Face Value | ₹10 Per Equity Share |
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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
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: ubi.ipo@linkintime.co.in
Website: http://www.linkintime.co.in
United Bank of India IPO is a main-board initial public offering of 50,000,000 equity shares of the face value of ₹10 aggregating up to ₹324.98 Crores.
The issue price of the IPO is ₹60 to ₹66 Per Equity Share. The minimum order quantity is 100 Shares per application and the offer type is Book Built Issue.
The IPO opens on Feb 23, 2010 and closes on Feb 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 Feb 23, 2010 and closes on Feb 25, 2010.
United Bank of India IPO application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.
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.
United Bank of India IPO lot size is 100 Shares and the minimum order quantity is 100 Shares.
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