IPO Listing – United Bank of India
United Bank of India IPO (BSE Script Code: 533171) is listed on Thursday, March 18, 2010. Issue price of this IPO has been fixed at Rs 66/- per share.
Shares of the state-run United Bank of India (UBI) debuted at Rs 77, a 16.66% premium over its initial public offer price of Rs 66 per share. The stock hit a high of Rs 77 and low of Rs 69.80 so far during the day.
The bank’s IPO was subscribed 33.38 times and garnered bids for 166.88 crore shares as against 5 crore shares on offer. The bank’s IPO remained open for bidding between 23 and 25 February 2010.
The UBI IPO saw high demand from institutional investors. The portion reserved for qualified institutional buyers (QIB) category was subscribed 47.08 times while that of non-institutional investors was subscribed 39.15 times. Retail investor portion was bid 9.80 times. However, employees quota remained undersubscribed and got bids for 13.25 lakh shares as against 25 lakh shares reserved for them
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