UBI issue price band at Rs 60-66

United Bank of India has fixed the indicative price band for its IPO in the range of Rs 60-66. The bank is likely to raise a sum of Rs 300-350 crore through the IPO. SC Gupta,chairman & managing director of the bank, said the idea was to increase the bank s book size and meet the requirements for growth. The bank is also planning to venture into the life insurance business, primarily to form a joint venture with a foreign partner. However, the bank is waiting for the right time to venture into the business. Talking to reporters on the sidelines ...

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