united bank of india
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The state-owned lender United Bank of India, is likely to come out with its initial public offering (IPO) by the 1st week of January, 2009, as per its executive director, TN Bhasin, reports Financial Express.
The bank said it would offer 50 million shares of face value Rs 10 each. The bank had requested the govt for infusing of Tier-I capital of Rs 8 billion. “This is in addition to Rs 5.5 billion of innovative perpetual debt instrument expected to be infused in 2009-10.“ said the bank.
Following the capital infusion, the statement said the bank was confident of maintaining capital to risk asset ratio of over 12% till March 2012.
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All the information presented on this blog is provided on the basis of as is and is meant for reference purpose only without any expressed or implied warranty. Use of the information and its application in any form is sole discretion and responsibility of the user. This site is not responsible for any damage or loss arising out of use of information presented here. This web site has links to external web sites and is not responsible for the contents at those sites.