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| PRODUCT NOTE |
| United Bank of India |
| OPENS ON : 23/02/2010 |
CLOSES ON : 25/02/2010 |
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| Company Details: |
- United Bank of India (UBI) is a public sector bank wholly owned by GOI having predominant
presence in north and north eastern states in India.
- UBI has wide distribution network with presence through 1,505 branches and 270 ATMs in 28
States and in 4 Union Territories in India. UBI has one representative office in Bangladesh.
- UBI has maintained high CASA deposits. AS of 30th Sep 09 the CASA deposits representing
33.96% of the total deposits consisted of savings deposit (26.41% of total) and current
deposits (7.55% of total).
- UBI has maintained a capital adequacy ratio13.28% and 12.93% in FY09 & half year ended
30th Sep 09 respectively.
- The Net Interest Income has grown from Rs 905 cr in FY 08 to Rs 1,162 cr in FY 09
(growth of 28%) while the Net Profit has grown by 1.47 times.
- The EPS of the bank stood at Rs 2.34 in FY 09 as against Rs 0.95 in FY 08. As of Sep-09 the
EPS stood at Rs 8.67.
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| IPO GRADING |
| ICRA has assigned an IPO Grade 3 to the proposed IPO of United Bank of India (UBI),
indicating average fundamentals.CARE has assigned a IPO Grade 4 grading to the proposed Initial Public Offer (IPO) of United
Bank of India (UBI). |
| Issue Details: |
| Issue Size |
: |
300-330 Crores |
| Face value |
: |
Rs 10/- per equity share |
| Price band |
: |
Rs.60 to Rs.66 (a discount Rs 3/-will be offered to retail) |
| Lot Size |
: |
100 Equity shares |
| Exchanges |
: |
NSE & BSE |
| Issue Type |
: |
100% Book Built issue IPO |
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| |
| Book Running Lead Manager : |
- ENAM Securities Pvt ltd,
- Edelweiss Capital.
- SBI Capital markets.
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|
| Registrar |
- Link In time India Pvt. Ltd
ISSUE STRUCTURE
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| ISSUE STRUCTURE |
| S. No. |
Main Category |
No of equity shares reserved for the main category |
| 1. |
QIB |
60% of the net issue size (At least
285,00,000 Equity shares) |
| 2. |
Non Institutional |
10% of the net issue size (Not less than
47,50,000 Equity Shares) |
| 3. |
Retail |
30% of the net issue size ( Not less than
42,50,000 Equity Shares) |
| Total Issue Size |
1+2+3+ |
50,000,000 Equity shares |
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IRDA Registration Number : CB-066/03
AMFI Registration No : ARN -0032 |
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