Punjab & Sind Bank IPO : Price Band Fixed

by khalid on 09/12/2010 · 0 comments

Punjab & Sind Bank IPO which is slated to come out with its IPO starting on 13th December 2010. The company has come out with the price band of the IPO today and fixed it at Rs 113-120. The bank will raise Rs. 452.00 – 480.00 Crore from the primary market.

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 board Punjab & Sind Bank has decided against having anchor investor because the issue is small of just 4 crore shares.

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 : Karvy Conputershare Private Limited, Hyderabad.

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

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