Punjab and Sind Bank Has Obtained SEBI Nod For IPO

Punjab and Sind BankState-runned Punjab and Sind Bank paln to penetrate capital \ markets with an IPO of 4 cr equity shares. The bank has obtained Securities and Exchange Board of India nod for its initial public offering.

Punjab Sind Bank is likely to move initial public offer by early Dec. The IPO issue consists a net issue for the public of 3.8 cr equity stocks along with a booking of 20-lakh equity stocks for subscription by qualified employees. The issue will comprise 17.93percent of the post issue share capital of the bank.

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