Kolkata, Feb 25 (Calcutta Tube) The initial public offer (IPO) of public sector bank United Bank of India (UBI), which closed Thursday, has received overwhelming response being subscribed 32.92 times.
‘We have received good response from the market. This definitely shows the confidence people have in UBI. This also gives us a new challenge also of delivering better performances in the days ahead,’ S.C. Gupta, chairman and managing director of the bank, told IANS.
The public sector bank has divested 15.8 percent of its stake, offering 50 million equity shares of face value of Rs.10 each.