Punjab & Sind Bank to hit markets on December 13, 2010

The Initial Public Offering (IPO) of Punjab & Sind Bank Limited will open for subscription by investors on December 13, 2010. The PSU Bank is coming with Public Issue of 4,00,00,000 Equity Shares Of Rs. 10 Each for cash at a price band of Rs 113 to Rs 120 through 100% book building process.

The Minimum Order Quantity is 50 Equity Shares and in multiples of 50 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.200000.

The Rating Agency CARE Limited has given IPO Grading of IPO Grade 4. SBI capital markets limited, Enam securities private limited and ICICI securities limited are the Book Running Lead Managers to the IPO.

SBICAP Securities Limited is the Syndicate Member to the issue. Link Intime India Private Limited is the registrar to the company.

The IPO closes for QIB bidders on December 15, 2010 and for other investors the issue closes on December 16, 2010.

Source : Equity Bulls

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