United Bank may sell shares at upper band
United Bank may sell shares at upper band
Mumbai:United Bank of India Ltd, the first lender to hold an initial public offering (IPO) in the nation since 2007, may sell shares at the top end of a range marketed to investors, two people with knowledge of the matter said.
The price may be set at Rs66 after 98% of bids were made at that level, one of the people said, asking not to be identified before an official announcement. Two-thirds of the bids for shares allocated for qualified institutional buyers came from foreign investors, one of the people said. The issue was subscribed 32.92 times.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!