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)
Category |
No. of Applications |
No. of Shares |
No. of times Subscription |
Qualified Institutional Buyers |
162 |
1.358,343,400 |
47.6612 |
Non Institutional Bidders |
363 |
165,840,200 |
34.9137 |
Retail Individual Bidders |
158.736 |
135,898.300 |
9.5367 |
Eligible Employees |
4.1B8 |
1,724,600 |
0.6898 |
Final Demand
A summary of the finaldemand as per BSE and NSE as on the Bid/Issue Closing date
at different bid prices is as under:
Bid Price |
No. of Shares |
% to Total |
Cumulative Total |
Cumulative % to total |
60 |
3867700 |
0.2296 |
1684664700 |
100.0000 |
61 |
55900 |
0.0033 |
1680797000 |
99.7704 |
62 |
387700 |
0.0230 |
1680741100 |
99.7671 |
63 |
2741200 |
0.1627 |
1680353400 |
99.7441 |
64 |
5512800 |
0.3272 |
1677612200 |
99.5814 |
65 |
5427300 |
0.3222 |
1672099400 |
99.2541 |
66 |
1539375800 |
91.3758 |
1666672100 |
98.9320 |
CUTOFF |
127296300 |
7.5562 |
127296300 |
7.5562 |
TOTAL |
1684664700 |
100.0000 |
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|
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
The Basis of Allotment to the Employee Investors, who have bid at cut-off or at
the Issue Price of Rs. 66/- per Equity Share was finalized in
consultation with BSE and the shares were alloted at a discount of Rs 3/- per equity share
to the issue Price of Rs 66 per equity share. The category was subscribed 0.66
times. As per the Prospectus, the unsubscribed portion of Employee Category is added back
to Retail Category (2,52,330 Equity Shares), Non Institutional Investor
Category (84,110 Equity Shares), QIB Category (5,04,660
Equity Shares). The total number of shares allotted in this category is 16,58,900
Equity Shares to 4,029 successful applicants. The category-wise details
of the Basis of Allotment are as under:
Category |
No. of Applns. |
% to total |
Total No.
of Shares applied |
% to total |
No. of
Shares allotted |
Ratio of
Allottees to Applicants |
Total No.
of Shares allotted |
100 |
978 |
24.27 |
97800 |
5.9 |
100 |
1:1 |
97,800 |
200 |
992 |
24.62 |
198400 |
11.96 |
200 |
1:1 |
198,400 |
300 |
460 |
11.42 |
138000 |
8.32 |
300 |
1:1 |
138,000 |
400 |
142 |
3.52 |
56800 |
3.42 |
400 |
1:1 |
56,800 |
500 |
740 |
18.37 |
370000 |
22.3 |
500 |
1:1 |
370,000 |
600 |
50 |
1.24 |
30000 |
1.81 |
600 |
1:1 |
30,000 |
700 |
53 |
1.32 |
37100 |
2.24 |
700 |
1:1 |
37,100 |
800 |
50 |
1.24 |
40000 |
2.41 |
800 |
1:1 |
40,000 |
900 |
2 |
0.05 |
1800 |
0.11 |
900 |
1:1 |
1,800 |
1000 |
290 |
7.2 |
290000 |
17.48 |
1000 |
1:1 |
290,000 |
1100 |
8 |
0.2 |
8800 |
0.53 |
1100 |
1:1 |
8,800 |
1200 |
16 |
0.4 |
19200 |
1.16 |
1200 |
1:1 |
19,200 |
1300 |
3 |
0.07 |
3900 |
0.24 |
1300 |
1:1 |
3,900 |
1400 |
4 |
0.1 |
5600 |
0.34 |
1400 |
1:1 |
5,600 |
1500 |
241 |
5.98 |
361500 |
21.79 |
1500 |
1:1 |
361,500 |
B. Allotment to Ratail Individual Investors (After Technical Rejections) Including
ASBA applications
The Basis of Allotment to the Retail Individual Investors, who have Bid at cut-off or at
the issue Price of Rs. 66/- per Equity was finalized in consultation with
BSE and the sharas were allotted at a discount of Rs 3/- per equity share to the issue
Price of Rs 66/- equity share. The category was over subscribed 9.27 times. The
total number of shares allotted in this category is 1,45,02,330 Equity Shares to 1,02,485
successful applicants. The category-wise details of the Basis of Allotment are as
under:
Category |
No. of Applns. |
% to total |
Total No. of Shares applied |
% to total |
No. of Shares allotted |
Ratio of Allottees to Applicants |
Total No. of Shares allotted |
100 |
24542 |
15.78 |
2454200 |
1.83 |
100 |
4:37 |
265300 |
200 |
17329 |
11.14 |
3465800 |
2.58 |
100 |
8:37 |
374,700 |
300 |
10403 |
6.69 |
3120900 |
2.32 |
100 |
12:37 |
337,400 |
400 |
5403 |
3.47 |
2161200 |
1.61 |
100 |
16:37 |
233,600 |
500 |
10035 |
6.45 |
5017500 |
3.73 |
100 |
20:37 |
542,400 |
600 |
2887 |
1.86 |
1732200 |
1.29 |
100 |
24:37 |
187,300 |
700 |
5992 |
3.85 |
4194400 |
3.12 |
100 |
28:37 |
453,400 |
800 |
2874 |
1.85 |
2299200 |
1.71 |
100 |
32:37 |
248,600 |
900 |
1066 |
0.69 |
959400 |
0.71 |
100 |
36:37 |
103,700 |
1000 |
5345 |
3.44 |
5345000 |
3.98 |
108 |
1:1 |
577,260 |
1100 |
779 |
0.5 |
856900 |
0.64 |
119 |
1:1 |
92,701 |
1200 |
829 |
0.53 |
994800 |
0.74 |
130 |
1:1 |
107,770 |
1300 |
1050 |
0.68 |
1365000 |
1.02 |
140 |
1:1 |
147,000 |
1400 |
1184 |
0.76 |
1657600 |
1.23 |
151 |
1:1 |
178,784 |
1500 |
65834 |
42.32 |
98751000 |
73.49 |
161 |
1:1 |
10,599,274 |
C. Allotment toNon lnstitutional lnvestors (After Technical Rejections) Including
ASBA applications
The Basis of Allotment to the Non Institutional Investors, who have bid at the Issue Price
of Rs. 66/- per Equity Share, was finalized in consultation with BSE. The category was
over subscribed 34.23 times. The total number of shares allotted in this category
is 48,34,110 Equity Shares to 303 successful applicants.The category-wise
details of the Basis of Allotment are (Sample)as under:
Category |
no. of
Applns. |
% to Total |
Total No. of Shares applied |
% to Total |
No. of Shares allotted |
Ratio of Allottees to Applicants |
Total No. of Shares allotted |
1600 |
6 |
1.89 |
9600 |
0.01 |
100 |
1 |
2 |
1700 |
2 |
0.63 |
3400 |
0.00 |
100 |
1 |
2 |
1800 |
2 |
0.63 |
3600 |
0.00 |
100 |
1 |
2 |
2000 |
13 |
4.10 |
26000 |
0.02 |
100 |
8 |
13 |
2300 |
2 |
0.63 |
4600 |
0.00 |
100 |
1 |
2 |
2400 |
1 |
0.32 |
2400 |
0.00 |
100 |
1 |
1 |
2500 |
4 |
1.26 |
10000 |
0.01 |
100 |
3 |
4 |
2800 |
1 |
0.32 |
2800 |
0.00 |
100 |
1 |
1 |
2900 |
1 |
0.32 |
2900 |
0.00 |
100 |
1 |
1 |
3000 |
18 |
5.68 |
54000 |
0.03 |
100 |
8 |
9 |
3100 |
1 |
0.32 |
3100 |
0.00 |
100 |
1 |
1 |
12100 |
1 |
0.32 |
12100 |
0.01 |
353 |
1 |
1 |
228000 |
1 |
0.32 |
228000 |
0.14 |
6661 |
1 |
1 |
279600 |
1 |
0.32 |
279600 |
0.17 |
8168 |
1 |
1 |
900000 |
1 |
0.32 |
900000 |
0.54 |
26293 |
1 |
1 |
1000000 |
3 |
0.95 |
3000000 |
1.81 |
29215 |
1 |
1 |
3030400 |
1 |
0.32 |
3030400 |
1.83 |
88532 |
1 |
1 |
10000000 |
2 |
0.63 |
20000000 |
12.09 |
292146 |
1 |
1 |
11363600 |
2 |
0.63 |
22727200 |
13.74 |
331943 |
1 |
1 |
11680000 |
1 |
0.32 |
11680000 |
7.06 |
341177 |
1 |
1 |
D. Allotment to QIBs
Allotment to QIBs has been done on a proportionate basis in consultation with BSE. As per
the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, Mutual Funds
were initially allotted 5% of the quantum of shares available (14,50,233 Equity
Shares), including Spill over from Employee Category to the extent of 25,233 Equity
Shares and other QIBs were allotted the remaining available shares (2,75,54,427 Equity
Shares) on proportionate basis, including Spill over from Employee Category to the
extent of 4,79,427 Equity Shares, was allotted to other QIBs on proportionate
basis.
Flls |
FIs/Banks |
MFs |
INC/VCFs |
Total |
1,44,15,662 |
60,27,642 |
47,17,401 |
38,43,955 |
2,90,04,660 |
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.
The CAN-cum-Refund Orders and allotment advice and notices have been dispatched to the
address of the Investors as registered with the depositories. In case the same is not
received within ten days, investors may contact the Registrar to the Issue at the address
given below. The Refund Orders have been over-printed with the Bank Mandate details as
registered, if any, with the depositories. The shares allotted to successful applicants
are being credited to their beneficiary accounts subject to validation of the account
details with the depositories concerned. The Bank is taking steps to get the equity shares
admitted for trading on Bombay Stock Exchange Limited and the National Stock Exchange of
India Limited within seven wording days from the date of approval of the basis of
allocation.
Note: All capitalized terms used and not defined herein shall have the respective meaning
assigned to them in the prospectus dated March 5,2010 ("Prospectus")
INVESTORS PLEASE NOTE
These details of the allocation made would be hosted on the website of Registrar to the
Issue, Linkintime India Private Limited at http://www.linkintime.co.in
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:
LINK INTIME INDIA PVT. LIMITED
C-13, Pannalal Silk Mills Compound, LBS Marg, Bhandup (West), Mumbai -400 008
Tel No: +91 22 25960320; Fax No: +91 22 25960329 Wabsite: www.linkintime.co.in; Email: ubi.ipo@linkintme.co.in
Place: Mumbai
Date: March 13, 2010 |
For UNITED BANK OF INDIA
sd/-
Bikramjit Shom
Company Secretary and Compliance Officer |
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