Dated February 24, 2006
100% Book Building Issue
Union Bank of India
(Union Bank of India was originally incorporated on November 11, 1919 in Mumbai as the “The Union Bank of India Limited” under theCompanies Act, 1913 with its registered office at 7, Marzban Road, Fort, Mumbai 400 001. The registered office was then shifted toMumbai Samachar Marg, Fort, Mumbai 400 001 in 1921. After nationalization, the name of the Bank was changed to “Union Bank ofIndia”. The Head Office of the Bank is situated at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai 400 021, Maharashtra, India)(Constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 on July 19, 1969)Head Office and Corporate Office: 239, Vidhan Bhavan Marg, Nariman Point, Mumbai 400 021, Maharashtra, IndiaTel: (91 22) 2289 2000; Fax: (91 22) 2288 1979Contact Person: R.B. Menon; Email: email@example.com Website: www.unionbankofindia.com
PUBLIC ISSUE OF UP TO 45,000,000 EQUITY SHARES OF RS. 10 EACH FOR CASH AT A PRICE OF RS. 110 PER EQUITYSHARE (THE “ISSUE”). AGGREGATING RS. 4,950 MILLION BY UNION BANK OF INDIA (THE “BANK” OR “ISSUER”) THEISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF UP TO 40,500,000 EQUITY SHARES OF RS. 10 EACH (THE “NETISSUE”) AND A RESERVATION FOR ELIGIBLE EMPLOYEES OF UP TO 4,500,000 EQUITY SHARES OF RS. 10 EACH, AT THEISSUE PRICE. THE ISSUE WILL CONSTITUTE 8.91% OF THE TOTAL POST ISSUE PAID-UP EQUITY CAPITAL OF THE BANK.THE PRICE BAND WILL BE DECIDED BY THE BANK IN CONSULTATION WITH THE BOOK RUNNING LEAD MANAGERS ANDANNOUNCED AND ADVERTISED AT LEAST ONE DAY PRIOR TO THE ISSUE OPENING DATE/ BID OPENING DATETHE FACE VALUE OF THE SHARES IS RS. 10 AND THE FLOOR PRICE IS 10 TIMES OF THE FACE VALUE AND THE CAP PRICEIS 11 TIMES OF THE FACE VALUE
.The Issue is being made through the 100% book building process where up to 50% of the Net Issue shall be allocated on a proportionatebasis to Qualified Institutional Buyers (“QIBs”) (including 5% of the QIB portion that would be specifically reserved for Mutual Funds).Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and notless than 35% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bidsbeing received at or above the Issue Price. Up to 4,500,000
shares shall be allotted on a proportionate basis to Eligible Employees.
RISK IN RELATION TO THE ISSUE
We are listed on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited. The Issue Price (as determinedby Union Bank of India in consultation with the Book Running Lead Managers (“BRLMs”) on the basis of assessment of market demandfor the Equity Shares by way of book-building) should not be taken to be indicative of the market price of the Equity Shares after theEquity Shares are listed. The market price of the existing Equity Shares of Union Bank of India could affect the price discovery throughbook building and vice versa. No assurance can be given regarding an active and/or sustained trading in the Equity Shares or regardingthe price at which the Equity Shares will be traded after listing.
Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in this Issue unlessthey can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking aninvestment decision in this Issue. For taking an investment decision, investors must rely on their own examination of Union Bank of Indiaand the Issue including the risks involved. The Equity Shares offered in the Issue have not been recommended or approved by theSecurities and Exchange Board of India (“SEBI”), nor does SEBI guarantee the accuracy or adequacy of this Prospectus. Specificattention of the investors is invited to the section titled “Risk Factors” on page x of this Prospectus.
The Bank having made all reasonable inquiries, accepts responsibility for and confirms that this Prospectus contains all information withregard to the Bank and the Issue, which is material in the context of the Issue, that the information contained in this Prospectus is trueand correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein arehonestly held and that there are no other facts, the omission of which makes this Prospectus as a whole or any of such information or theexpression of any such opinions or intentions misleading in any material respect.
The Equity Shares offered through this Prospectus are proposed to be listed on the the Bombay Stock Exchange Limited and NationalStock Exchange of India Limited. We have received in-principle approval from the the Bombay Stock Exchange Limited and NationalStock Exchange of India Limited, for the listing of the Equity Shares pursuant to letters dated December 26, 2005 and December 28,2005, respectively. The Designated Stock Exchange is the Bombay Stock Exchange Limited.
BOOK RUNNING LEAD MANAGERSREGISTRAR TO THE ISSUE
SBI CAPITAL MARKETS LIMITED
202, Maker Tower - ECuffe ParadeMumbai 400 005, IndiaTel: (91 22) 2218 9166Fax: (91 22) 2218 8332Email: firstname.lastname@example.orgWebsite: www.sbicaps.comContact Person:Amit Ramchandani
CITIGROUP GLOBAL MARKETSINDIA PRIVATE LIMITED
Bakhtawar, 4th FloorNariman PointMumbai - 400 021IndiaToll Free: (91) 1800 2299 96Fax: (91 22) 5631 9803Email: email@example.comWebsite: www.citibank.co.inContact Person: Amulya Goyal
DSP MERRILL LYNCH LIMITED
Mafatlal Centre,10th Floor,Nariman Point,Mumbai - 400 021, IndiaTel: (91 22) 2262 1071Fax: (91 22) 2262 1187Email: firstname.lastname@example.orgWebsite: www.dspml.comContact Person: N. S. Shekhar
ENAM FINANCIALCONSULTANTS PRIVATELIMITED
801/802, Dalamal TowersNariman PointMumbai 400 021, IndiaTel: (91 22) 5638 1800Fax: (91 22) 2284 6824Email: email@example.comWebsite: www.enam.comContact Person: Prabhat Rai
KOTAK MAHINDRA CAPITALCOMPANY LIMITED
3rd Floor, Bakhtawar, 229Nariman PointMumbai-400 021, IndiaTel: (91 22) 5634 1100Fax: (91 22) 2284 0492Email: firstname.lastname@example.orgWebsite: www.kotak.comContact Person: Sunil Amin
Sri Venkatesh BhavanPlot No. 27, Road No. 11MIDC AreaAndheri EastMumbai - 400 093, IndiaTel: (91 22) 2280 1785Fax: (91 22) 2820 1783Email: email@example.comWebsite: www.mcsind.comContact Person: Shashikant Kadam
ISSUE PROGRAMMEBID / ISSUE OPENS ON: FEBRUARY 15, 2006 BID / ISSUE CLOSES ON: FEBRUARY 21, 2006