Punjab & Sind Bank allots 11152000 Equity Shares to LIC

The Board of Directors of Punjab & Sind Bank has allotted to the Life Insurance Corporation of India (LIC), on preferential basis, 1,11,52,000 Equity Shares of the face value of Rs. 10/- each at a issue price of Rs. 85.46 per Equity Share (including premium of Rs. 75.46 per equity share) determined in accordance with Regulation 76 of SEBI (ICDR) Regulations, 2009.

The Punjab & Sind Bank stock closed the day at Rs.74.70, up by Rs.1.10 or 1.49%. The stock hit an intraday high of Rs.77 and low of Rs.74.50.

The total traded quantity was 0.62 lakhs compared to 2 week average of 0.34 lakhs.

Source : Equity Bulls

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