Punjab & Sind Bank IPO : Broker’s Recomendations

by khalid on 13/12/2010 · 0 comments

The only un-listed nationalized bank Punjab & Sind Bank is entering into primary market with an Initial Public Offer (IPO) of 40,000,000 Equity Shares of Rs 10 each. The IPO is opening on 13th Dec 2010 and the shares will be available for subscription up to 16th Dec 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 113 – Rs 120 Per Equity Share . CARE has assigned 4 out of 5 grade. So its an ‘Above Average Fundamentals’ and that is very positive. Punjab & Sind Bank founded in the year 1908 started functioning from the Holy City of Amritsar with a humble idea to uplift the poorest of poor. Now Punjab & Sind Bank is a major bank in Northern India. The bank has 900 branches spread throughout the country but around 50% of then are located in Punjab.

Most of the broker’s houses have recommend to subscribe the IPO. There views are given below :-

Angel Broking : Subscribe

Edelweiss : Subscribe

MLR Securities : Subscribe

IIFL : Subscribe

Hem Securities : Subscribe

Way2Wealth : Neutral

SP Tulsian (Independent Analyst) : Subscribe at upper band

Mansukh :Subscribe

Stay tuned to BelltheBull Blog for more on Punjab & Sind Bank IPO !

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