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United Bank of India listed this morning. The PSU bank had come out with an IPO in the price band of Rs 60-66. The issue was open between the 23rd and 25th of February and was very well received. The issue was oversubscribed over 33 times and had received excellent support from QIB’s, HNI’s and retail. Retail investors were offered a discount of 5% in the issue which means that they were offered shares effectively at Rs 63.
The share listed on the BSE at Rs 77 while on the NSE the open was Rs 74.90. The high on both the exchanges was Rs 77 and the lows were Rs 69.80 on the BSE and Rs 70.15 on the NSE respectively.
| Exchange | Open | High | Low | Close | Net Change | % gain | Volume | Wt Avg |
| BSE | 77.00 | 77.00 | 69.80 | 72.00 | 6.00 | 9.09 | 17156676 | 72.27 |
| NSE | 74.90 | 77.00 | 69.70 | 72.00 | 6.00 | 9.09 | 32330196 | 72.27 |
| Total | 49486872 |
The share has seen brisk volume in the first 2 and half hours of trade. The total volume is 4.95 cr shares which is just about the IPO size of 5 cr shares. The share is holding itself at around Rs 72 which is a gain of 9% for all investors and over 14% for retail investors who got a discount of Rs 3 per share.
More about the share after delivery details are available at the end of the day.
