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

Feb 23, 2010 - Feb 25, 2010

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:

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 Details

IPO Opening DateFeb 23, 2010
IPO Closing DateFeb 25, 2010
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price₹60 to ₹66 per equity share
Market Lot100 Shares
Min Order Quantity100 Shares
Listing AtBSE, NSE
Issue Size50,000,000 Eq Shares of ₹10
(aggregating up to ₹324.98 Cr)

United Bank of India IPO Lot Size

The United Bank of India IPO market lot size is 100 shares. A retail-individual investor can apply for up to 30 lots (3000 shares or ₹198,000).

ApplicationLotsSharesAmount (Cut-off)
Minimum1100₹6,600
Maximum303000₹198,000

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 Subscription Status (Bidding Detail)

The United Bank of India IPO is subscribed 33.38x times on Feb 25, 2010 19:00. The public issue subscribed 9.80x in the retail category, 47.08x in the QIB category, and 39.15x in the NII category. Check Day by Day Subscription Details (Live Status)

CategoryIPO Subscription
QIB

47.08x

NII

39.15x

RII

9.80x

Employee

0.53x

Total

33.38x

United Bank of India IPO Prospectus

United Bank of India IPO Rating

333
4.0
Rating:Rated 4.0 stars

Vote Here ...

United Bank of India IPO Listing Date

Listing DateThursday, March 18, 2010
BSE Script Code533171
NSE SymbolUNITEDBNK
Listing InB Group of Securities
ISININE695A01019
IPO Price₹66 per equity share
Face Value₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume
BSE
₹66.00
₹77.00
₹68.10
₹77.00
₹68.80
28,299,084
NSE
₹66.00
₹74.90
₹68.00
₹77.00
₹68.65
55,114,360

United Bank of India IPO Reviews / Ratings

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Company Contact Information

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
   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 FAQs

  1. What is United Bank of India IPO?

    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 equity share. The minimum order quantity is 100 Shares.

    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.

  2. When United Bank of India IPO will open?

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

  3. What is the lot size of United Bank of India IPO?

    United Bank of India IPO lot size is 100 Shares and the minimum order quantity is 100 Shares.

  4. How to apply for United Bank of India IPO?

    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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

  5. When United Bank of India IPO allotment?

    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.

  6. When is United Bank of India IPO listing date?

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

United Bank of India IPO Message Board

Ranked Members  Ranked Members

Loading...
626. Ravi, Bangalore |Apr 7, 2010 19:18
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.
625. Rahul |Apr 5, 2010 20:54
624. BJ

Ask NEHA
624. BJ |Apr 3, 2010 10:39
when will this reach 80 :(
623. CNU |Apr 1, 2010 13:45
Yeah, nearly 5% up good move
622. Raghu |Apr 1, 2010 12:18
Finally UBI has started moving!!!
621. IPOEXPERT |Mar 29, 2010 01:05
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
620. Gane |Mar 28, 2010 21:43
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.
619. Raghu |Mar 26, 2010 17:16
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.
618. Amar |Mar 26, 2010 16:52
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 :(
617. RJ |Mar 26, 2010 12:08
Thank you Mr Ravi, Bangalore for your analysis.
616. Ravi, Bangalore |Mar 25, 2010 18:50
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.
615. toshniwal |Mar 24, 2010 21:49
Thanks GEM
What do you think abt. NMDC?
At what prise, I must exit.
614. GEM IPO FINDER |Mar 24, 2010 11:57
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
613. toshniwal |Mar 23, 2010 22:00
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????????
612. Kaka Kahin |Mar 23, 2010 11:32
hamar e kahna he ki neha madam aur tulsiyanji ki shadi kara di jaye koki dono ek hi thali k chatte batte he
611. Dipak |Mar 22, 2010 16:41
Nihar behenji,
U pls don't behave like don****.
Some boaders are in love with u..
Jai hoo Delhi High court ki.
610. ABC |Mar 22, 2010 14:03
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
609. IMRAN |Mar 20, 2010 23:51
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
608. STUPID NEHA AND VISHU |Mar 20, 2010 21:02
Don't fight guys, gals and gays.
607. STUPID NEHA |Mar 20, 2010 20:51
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.







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