Punjab & Sind Bank IPO : Opening on 13th Dec 2010

by khalid on 07/12/2010 · 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 . 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.

The issue comprises a net issue to the public of 3.8 crore equity shares and a reservation of 20 lakh equity shares for subscription by eligible employees. The issue shall constitute 17.93% of the post-issue share capital of the bank. President of India, acting through the Ministry of Finance, Government of India, holds 100% stake in the bank, which will be reduced to 82.07% post issue.

The equity shares offered through the FPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Issue Detail:-
Issue Open : 13th Dec 2010 – 16th Dec 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 40,000,000 Equity Shares of Rs 10 each
Issue Size : Rs 452.00 – 480.00 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 113 – Rs 120 Per Equity Share
Minimum Bid Quantity : 50 Shares (Rs. 6000 with 1 Lot)
Maximum Bid Quantity : 1650 Shares (Rs. 198000 with 33 Lot)
Listing At : BSE, NSE

Retail investors get an additional 5% discount on the final price of the issue.

Maximum Subscription Amount for Retail Investor : Rs. 200000

The Book running lead managers to the issue are SBI Capital Markets Limited, Enam Securities Pvt Ltd and ICICI Securities Limited.

Registrar of the Issue : Link Intime India Private Ltd, Mumbai.

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

Related Posts Plugin for WordPress, Blogger...

Leave a Comment

Previous post:

Next post: