United Bank of India IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 28,500,000 (57%) | — | ₹18,810 Cr |
| NII (HNI) | — | 4,750,000 (10%) | — | ₹314 Cr |
| Retail | — | 14,250,000 (29%) | — | ₹9,405 Cr |
| Employee | — | 2,500,000 (5%) | — | ₹165 Cr |
| Σ Total | — | 50,000,000 (100%) | — | ₹330,000 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹6,600 |
| Retail (Max) | 13 | 1,300 | ₹85,800 |
| S-HNI (Min) | 14 | 1,400 | ₹92,400 |
| B-HNI (Min) | 67 | 6,700 | ₹442,200 |
Financial Statements Amount in ₹ Crore
| Metric | 30-Sep-09 | 31-Mar-09 | 31-Mar-08 |
|---|---|---|---|
| Revenue | 2,776 | 4,803 | 4,023 |
| Profit After Tax | 231 | 359 | 145 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Augment our capital base to meet the future capital requirements arising out of the implementation of the Basel II standards and the growth in our assets, primarily our loan and investment portfolio due to the growth of the Indian economy – 3,12.140
- 2 General Corporate Purposes –
- 3 Issue expenses – 12.840
Company Overview
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.