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United Bank of India gains on getting nod for capital raising plan

United Bank of India - (Amalgamated) | Bank - Public | BFSI | BSE: 533171 | NSE: UNITEDBNK

16 Mar 2015 Evaluate

United Bank of India is currently trading at Rs. 32.40, up by 0.10 points or 0.31% from its previous closing of Rs. 32.30 on the BSE.

The scrip opened at Rs 34.00 and has touched a high and low of Rs 35.00 and Rs 32.35 respectively. So far 18444 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 61.65 on 04-Jul-2014 and a 52 week low of Rs. 26.50 on 14-Mar-2014.

Last one week high and low of the scrip stood at Rs. 35.60 and Rs. 32.20 respectively. The current market cap of the company is Rs. 2332.71 crore.

The promoters holding in the company stood at 78.92% while Institutions and Non-Institutions held 16.38% and 4.70% respectively.

Public sector lender, United Bank of India has received its shareholders’ approval for preferential allotment of up to 35.67 crore equity shares of Rs 10 each, at a price of Rs. 42.75 per share, to the Central government. The bank is planning to raise not more than Rs 1,000 crore including premium for cash through issue of over 23.39 crore equity shares of Rs 10 each, at Rs 42.75 per share. The remaining 12.28 crore equity shares to be issued are by way of conversion of existing PNCPS. After these allotments, the government's shareholding in the Bank would touch 82 percent.

United Bank of India is one of the 14 major banks which were nationalized on July 19, 1969. After nationalization, the Bank expanded its branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalization.

United Bank-Amalgama Share Price

8.02 0.00 (0.00%)

20-Mar-2020 18:01 View Price Chart

Peers

Company Name	CMP
SBI	1080.35
PNB	114.50
Canara Bank	142.35
Bank Of Baroda	280.00
Union Bank Of India	188.90
View more..

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United Bank of India gains on getting nod for capital raising plan

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