Punjab & Sind Bank issues long term bonds amounting to Rs. 3000 crores

Punjab & Sind Bank has come out with issue of Long Term Bonds (Infrastructure) amounting to Rs.3,000 crore on a Private Placement Basis today i.e. 18.12.2024.

The Bank received total Bids amounting to Rs.6,031 crore in an overwhelming response from investors and the issue was oversubscribed by 12.06 times against the base issue size of Rs.500 crore plus Green Shoe Option of Rs.2,500 crore, aggregating to Rs.3,000 crore. Further, Bank has decided to accept bids of Rs.3,000 crore at coupon rate of 7.74% p.a.

Shares of Punjab & Sind Bank was last trading in BSE at Rs. 50.71 as compared to the previous close of Rs. 51.37. The total number of shares traded during the day was 82139 in over 673 trades.

The stock hit an intraday high of Rs. 51.63 and intraday low of 50.51. The net turnover during the day was Rs. 4188579.00.

Source : Equity Bulls

Keywords

PunjabandSindBank INE608A01012 PSB LongTermBonds FundRaising