Punjab and Sind Bank IPO at a price of Rs.113 to Rs.120 per equity

Punjab and Sind bank, a state owned organization’s Initial Public Offering will be opening for the subscription from 13th December.

The net issue to the public is approximately about 3.8 crore equity shares. Here, 20 lakh equity shares are allocated for the subscription from the eligible employees.

This issue will constitute 17.93% of the post-issue share capital of the bank. IPO has equity shares of 10 each for cash at a price of Rs.113 to Rs.120 per equity share.

Here, each equity share will have a 100% book building process. The issue will closes on 15th December, 2010. The qualified institutional buyers and other bidders, the last date would be 16th December 2010.

The Book Running Lead managers to the Issue are SBI Capital Market Limited, Enam Securities Private Limited and ICICI Securities Limited.

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