The equity shares of the Kolkata-based United Bank of India have been listed and have started trading at a premium, bank sources said.
The Bombay Stock Exchange (BSE) has informed its trading members that effective March 18, the equity shares of United Bank of India (Scrip Code: 533171), which recently made an initial public offer, are listed and admitted to dealings on the exchange in the list of ‘B' Group Securities.
At a time when many public sector companies are witnessing lukewarm response to their issues, United Bank witnessed an overwhelming response to the issue. Many major banks have picked up shares of this eastern India bank which issued five crore equity shares at a price band of Rs. 60-66 . A bank release said that the scrip opened at an intra-day high of Rs. 77 (up 16.67 per cent) on the BSE and at Rs. 74.90 (up 13.49 per cent) on the NSE. It closed at Rs. 68.10 on the BSE and at Rs. 68.65 on the NSE.
