Public sector lender United Bank of India (UBI) will hit the capital market tomorrow with an initial share sale offer to raise up to Rs 330 crore.

The bank will come out with an initial public offer (IPO) of five crore shares, which will lead to the government stake dilution of about 15.8 per cent. The issue would close on February 25. Post the issue, the government stake in UBI would come down to 84.2 per cent from the existing 100 per cent.

Also Read   Related Stories News Now - United Bank to leverage RRB network for growth - L&T may list finance units - UBI seeks Rs 500 cr govt aid, to raise Rs 330 cr - On a strong wicket - Regional player - UBI gets breather on board composition

Also Read   Related Stories News Now - Markets post worst May performace since 2006 - Kavveri Telecom Q4 net declines over 6% - Wall Street opens flat on economy worries - RIM to set up first BlackBerry innovation zone in India - Rajaratnam bragged about sources of inside info: Gupta lawyers More

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets post worst May performace since 2006 - Kavveri Telecom Q4 net declines over 6% - Wall Street opens flat on economy worries - RIM to set up first BlackBerry innovation zone in India - Rajaratnam bragged about sources of inside info: Gupta lawyers

Tags : United Bank of India | IPOs | capital market   Read Business news in  Advertisements -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  Help a Child Achieve her. Click to know more -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  Watch The Film Here. Click here to know more.. -  1 billion in saving for Unilever without any tangles. -  One Partnership Endless Possibilities. Click here to know more -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More