United Bank of India’s initial public offer has received bids for all the shares on sale, data on the National Stock Exchange showed Tuesday, the first day for making bids.
The issue received bids for 5.80 crore shares, against five crore shares on offer, thereby generating a demand of 1.16 times, according to the data available with the National Stock Exchange. Bids came across the INR60-INR66 indicative price band, but most of them were at the lower end.
The company would also offer a five per cent discount over the issue price at the time of allotment of shares to retail investors.
The issue will close Thursday
