Punjab & Sind Bank issues shares through QIP

The Committee of Directors ("Committee") of Punjab & Sind Bank has at its meeting held today i.e. March 27, 2025 approved the issue and allotment of 31,77,98,773 Equity Shares of face value Rs. 10 each to eligible qualified institutional buyers at the issue price of Rs. 38.37 per Equity Share (including a premium of Rs. 28.37 per Equity Share) against the floor price of Rs. 40.38 per Equity Share, aggregating to Rs. 12,19,39,38,920.01 (Rupees Rupees Twelve Hundred Nineteen Crore Thirty Nine Lac Thirty Eight Thousand Nine Hundred Twenty and One Paisa only), pursuant to the Issue in accordance with provisions of Securities and Exchange Board of India (Issue of Capital Disclosure Requirements) Regulations, 2018.

The Issue opened on March 24, 2025 and closed on March 27, 2025 and the same was intimated to you through our letters dated March 24, 2025 and March 27, 2025 respectively.

Pursuant to the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Bank stands increased from Rs.6777.78 crores, comprising of 6,77,77,86,447 Equity Shares to Rs. 7095.59 crores, comprising of 7,09,55,85,220 Equity Shares.

Shares of Punjab & Sind Bank was last trading in BSE at Rs. 44.76 as compared to the previous close of Rs. 44.61. The total number of shares traded during the day was 157317 in over 1397 trades.

The stock hit an intraday high of Rs. 45.19 and intraday low of 43.56. The net turnover during the day was Rs. 6977657.00.

Source : Equity Bulls

Keywords

PunjabandSindBank INE608A01012 PSB FundRaising QIP SharesAllotment QIBs