United Bank of India (UBI) is launching its maiden IPO to sell 5 cr shares. The issue opens on Tuesday the 23rd of February and closes on Thursday the 25th of February 2010. The issue would be closing on the eve of the Union Budget scheduled on Friday the 26th of February 2010.

IPO grade assigned by CARE is 4/5 and assigned by ICRA is 3/5. The price band would be announced latest by Thursday evening and would be available in the newspapers by way of price band announcement on Friday the 19th of February. The bank has its roadshow today in Mumbai and some details would be available post the same.

According to informed sources, the price band is likely to be in the range of rs.60-66