Punjab & Sind Bank IPO garners subscription of 48.74 times till 5:00 PM

The Initial Public Offering (IPO) of Punjab & Sind Bank Limited has received overwhelming response from investors with the issue receiving subscription of 48.74 times till 5:00 PM today (December 16, 2010).

The issue has received total bids for 1949618400 equity shares against the offer of 40000000 equity shares. The issue received bids for 416628950 equity shares at cut-off price.

The IPO which opened for subscription on December 13, 2010 will close for subscription today (December 16, 2010). The IPO closed for subscription by QIB bidders on December 15, 2010.

The retail portion of the issue has received nearly 32 times subscription.

Source : Equity Bulls

Keywords