United Bank of India IPO receives subscription of 33.38 times

The Initial Public Offering (IPO) of United Bank of India received excellent response from wide spectrum of investors with the issue receiving subscription of 33.38 times.

The IPO has received total bids for 1668850900 equity shares against the offer of 50000000 equity shares. The issue received bids for 127297600 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 47.0824 times with bids for 1341847100 equity shares against the offer of 28500000 equity shares.

The Non Institutional Investors portion of the issue has received bids for 185974500 equity shares against the offer of 4750000 equity shares resulting in a subscription of 39.1525 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 9.8038 times with bids for 139704100 equity shares against the offer of 14250000 equity shares.

The Employee Reservation portion received bids for 0.5301 times with bids for 1325200 equity shares against the offer of 2500000 equity shares.

Source : Equity Bulls

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