United Bank of India allots 8.45 crore equity shares to LIC

United Bank of India has received Rs.299,99,99,991/- from Life Insurance Corporation of India and completed the preferential allotment of 8,45,07,042 equity shares of Rs.10/- each at a price of Rs.35.50 per share on date.

The Bank received the necessary clearance from the shareholders on June 18, 2014 and the final clearance from the Ministry of Finance on July 16, 2014.

Shares of UNITED BANK OF INDIA was last trading in BSE at Rs.51.35 as compared to the previous close of Rs. 49. The total number of shares traded during the day was 699714 in over 7921 trades.

The stock hit an intraday high of Rs. 54 and intraday low of 50. The net turnover during the day was Rs. 36379208.

Source : Equity Bulls

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