United Bank of India rose 1.14% to Rs 17.70 at 11:00 IST on BSE after the bank said that it raised Rs 100 crore by issuing Basel III compliant bonds on a private placement basis.
The announcement was made after market hours yesterday, 27 December 2017.Meanwhile, the S&P BSE Sensex was down 98.80 points or 0.29% at 33,911.81. The S&P BSE Small-Cap index was down 63.52 points or 0.33% at 19,048.28, underperforming the Sensex.
On the BSE, 14,390 shares were traded in the counter so far as against average daily volume of 1.05 lakh shares in the past one quarter. The stock had hit a high of Rs 17.85 and a low of Rs 17.50 so far during the day. The stock had hit a 52-week high of Rs 29.25 on 7 February 2017. The stock had hit a 52-week low of Rs 16.90 on 18 December 2017.
The small-cap state-run bank has equity capital of Rs 1561.82 crore. Face value per share is Rs 10.
The bank has concluded issuance and allotment of 1,000 units of 11% unsecured, subordinated, fully paid-up, non-convertible, listed, Basel III compliant, perpetual debt instruments in the nature of debentures for inclusion in additional tier-1 capital aggregating to Rs 100 crore on private placement basis.
The issue was fully subscribed by 3 investors.
United Bank of India reported net loss of Rs 344.83 crore in Q2 September 2017 compared to net profit of Rs 43.53 crore in Q2 September 2016. Total income fell 10.7% to Rs 2584.89 crore in Q2 September 2017 over Q2 September 2016.
The Government of India held 86.81% stake in United Bank of India as per the shareholding pattern as on 30 September 2017.
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