United Bank of India IPO Raised 3.3 Billion INR

United Bank of India IPO News: United Bank of India plans to raise as much as 3.3 billion rupees ($72 million) in the first initial public offer (IPO) by a state-owned lender since Central Bank of India’s share sale in July 2007.

“In the last five years, our business has grown at an average 32 percent and we will continue to grow at the same rate in the future,” United Bank’s Gupta said.

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