United Bank sets floor price for Rs 1,500-cr QIP

State-owned United Bank of India has set Rs 24.44 as the floor price for its Rs 1,500 crore QIP programme.

The Kolkata-headquartered lender had in January said it planned to raise up to Rs 1,500 crore through qualified institutional placement (QIP), rights or public issue.

The QIP opened today (March 21, 2017), it said in a regulatory filing.

"The floor price of the aforesaid QIP is Rs 24.44 per equity share. The bank may at its discretion offer a discount of up to 5 per cent on the floor price in the QIP," it said.

United Bank of India's share closed 1.39 per cent down at Rs 24.85 on BSE.