United Bank Of India IPO to Enter Capital Market
A good research report has come out on the Union Bank of India (UBI) IPO and ended up by advising everyone to subscribe to its issue stating its margin of safety which is quite significant and the advantage is that is also has attractive valuations.
UBI, which is a banking institution in the private sector, is all set to enter the capital market with an attractive IPO or initial public offering of about 5 crore of equity shares on the 23rd of February. It is also expected to close on the
25th February of this year and they have offered an exciting discount of about 5% for all retail investors.
The price band for each share that is issued was quoted at Rs. 60 - 66. The report made it very clear that UBI has a better offering than its peer offerings that occurred in the year 2007 as it had very exciting valuations. It was also reported that re - rating of stock could occur if they saw any improvement in its core performance and if they become fully subscribed, there is every chance that the government can make up Rs. 330 crore.