Punjab & Sind Bank, the state-owned bank, is planning to come up with an IPO, which is expected to hit the markets soon. Punjab & Sind Bank is the only state-owned bank that is not yet listed
Currently, 100% of the stake in Punjab & Sind Bank is owned by Government of India, which it plans to divest to the extent of about 18 percent, thus reducing its holding to around 82 percent
The IPO Dates as well as Price Band for the IPO would be updated as soon as they are declared. The IPO would contain a 5% discount on the final Issue Price for Retail Investors
Punjab & Sind Bank IPO has already got approval of Securities and Exchange Board of India (SEBI). Punjab & Sind Bank had earlier filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in August, 2010
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