Public Relations

Punjab & Sind Bank seeks govt OK for IPO

Punjab and Sind Bank Ltd had sought government approval for its proposed initial public offer, a source close to the development said today. - United Bank files for IPO - 2009 a mixed year for primary markets - "Monetary tightening will cause some pullback" - Sebi panel for compensating victims of public issue scam - "Limited partners will look at returns in "2010 and 2011" - Jindal Power files DRHP for Rs 7,200-crore IPO The bank aims to launch the issue in early part of the financial year starting April. “We are planning to raise around 5 bln rupees through the IPO and are targeting to launch it in early next financial year,” the source told NewsWire18. Government holding in the bank is expected to come down to 83-84% following the public offer, the source said. “We will be offering 40 mln equity shares with a face value of Rs 10 per share in the public issue,” the source said. The bank is likely to charge a premium of 110-120 rupees per share in the IPO.

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