Employees give a miss for United Bank of India IPO

The Employee portion of the United Bank of India IPO received total bids for 1325200 equity shares against the offer of 2500000 equity shares.

The employee reservation portion has received subscription of 0.5301 times.

Under Employee Portion bids for 1218700 equity shares were received at Cut Off price and bids for 106500 equity shares have been received as price bids.

The IPO opened for subscription on February 23, 2010 and closed for subscription today - February 25, 2010. The IPO has received overwhelming response from wide spectrum of investors except for the employees.

Source : Equity Bulls

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