Issue Open | Feb 23, 2010 |
Issue Close | Feb 25, 2010 |
IPO Price | ₹66 |
Face Value | ₹10 |
IPO Size | ₹324.98 Cr |
Listing At | BSE, NSE |
IPO Lot Size | 100 |
UNITED BANK OF INDIA Constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 on July 19, 1969.Head Office: 11, Hemanta Basu Sarani, Kolkata - 700 001, West Bengal. Tel: (91 33) 2248 7472; Fax: (91 33) 2248 9391; Email: investors@unitedbank.co.in; Website: www.unitedbankofindia.com. For further details in relation to the constitution and changes in our registered office, see the section titled "History and Certain Corporate Matters" on page 179 of the Prospectus. Company Secretary and Compliance Officer: Bikramjit Shom OUR BANK IS PROMOTED BY THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF FINANCE, GOVERNMENT OF INDIA BASIS OF ALLOTMENT Public Issue of 5,00,00,000 Equity Shares of Face Value of Rs.10 each of United Bank of India ("The Bank" or "The Issuer") for Cash at a Price of Rs. 66/- per Equity Share (including a Share Premium of Rs.56/- per Equity Share) aggregating Rs. 324.98* Crores (the "issue"). The Issue comprised of Net Issue of 4,75,00,000 Equity Shares of face Value of Rs. 10 each to the Public ("Net issue") and a Reservation of 25,00,000 Equity Shares for subscription by Eligible Employees (the "Employee Reservation Portion"). The Issue constituted 15.80% of the Post Issue Pald-Up Capital of the Bank and the Net Issue constituted 15.01% of the Post Issue Paid Up Capital of the Bank. # A discount of Rs.3/- to the issue Price was offered to retail individual bidders and eligible employees (the "Retail Discount"). * Pursuant to the finalisation of basis of allotment, the actual issue size amounted to Rs. 325.15 cr due to spill over from the employees category which was distributed equally between QIB, HNI and Retail category (i.e.60:10:30) BID/ISSUE OPENED ON FEBRUARY 23,2010, CLOSED ON FEBRUARY 25,2010 The Equity Shares of the Bank are proposed to be listed on Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS RS. 66/- AND IT IS 6.6 TIMES THE FACE VALUE. In terms of Rule 19(2)(b)of the Securities Contracts Regulations Rules, 1957 {"SCRR"). this being an Issue for less than 25% of the post-Issue capital, the Issue was made through the 100% Book Building Process wherein at least 60% of the Net Issue was allocated on a proportionate basis to QIB Bidders ("QIB Portion"). Further 5% of the QIB Portion was made available for allocation on a proportionate basis to Mutual Funds only and the remainder of the QIB Portion was made available for allocation on a proportionate basis to all QIB Bidders, Including Mutual Funds, subject to valid Bids being received at or above the Issue Price. However, If the aggregate demand from Mutual Funds would be less than 5 % in the QIB Portion, The balance Equity Shares available for allocation In the Mutual Fund Portion would be added to the QIB Portion and allocated proportionately to the QIBs in proportion to their Bids. If at least 60% of the Net Issue could not be allocated to QIBs, then the entire application money would be refunded forthwith. Further, not less than 10% of the Net Issue would be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net Issue would be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. Further, up to 25,00,000 Equity Shares was made available for allocation on a proportionate basis to Eligible Employees, subject to valid Bids being received at or above the Issue Price. The Issue received 1,63,451 applications for 1,66,18,06,500 equity shares resulting in 33.24 times subscription. The details of the applications received In the Issue from Qualified Institutional Buyers, Non-Institutional. Retail Individual Investor and Employee categories are as under: (Before technical rejections)
Final Demand
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the Bombay Stock Exchange Limited ("BSE") on March 9,2010. A. Allotment to Employee Investors (After Technical Rejections) Including ASBA
applications
B. Allotment to Ratail Individual Investors (After Technical Rejections) Including
ASBA applications
C. Allotment toNon lnstitutional lnvestors (After Technical Rejections) Including
ASBA applications
D. Allotment to QIBs
The Board of Directors of the Bank has approved by circulation the basis of allotment
of shares of the Issue vide the Resolution dated March fO,2Q10andhasaifottedthe shares to
various successful applicants. INVESTORS PLEASE NOTE All future correspondence in this regard may kindly be addressed to the Registrar
to the Issue quoting full name of the First/ Sole applicant, Serial number of the
bid-cum-application form, number of shares bid for, name of the Member of the Syndicate
and Place where the bid was submitted and payment details at the address given below:
|
The United Bank of India IPO basis of allotment (published above) tells you how shares are allocated to you in United Bank of India IPO and category wise demand of IPO share.
Visit the United Bank of India IPO allotment status page to check the number of shares allocated to your application.
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