United Bank sets floor price for Rs 1,500 crore QIP
DSIJ Intelligence / 22 Mar 2017
To raise Rs 1,500 crore through qualified institutional placement (QIP) rights or public issue, as launched on March 21, 2017, the state-owned lender, United Bank of India decided the floor price for the QIP programme on March 22, 2017.
In a bid to raise Rs 1,500 crore through qualified institutional placement (QIP) rights or public issue, the state-owned lender, United Bank of India set Rs 24.44 as the floor price for its QIP programme.
Whereas, the bank is most likely to offer a discount of upto 5 per cent on the floor price for the Rs 1,500 crore QIP programme.
The QIP opened on March 21, 2017 as the company announced in a regulatory filling.
On March 17, the Kolkata-based bank had receieved a capital infusion of Rs 418 crore from the Central Government, as a part of the capital turnaround linked capital infusion plan.
As on March 22, 2017, the stock of United Bank of India is trading at Rs 24.65, down by 0.80 per cent on BSE, while, the stock trading at Rs 24.50 on NSE, down by 0.81 per cent.
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