Incorporated in 1908, Punjab & Sind Bank is a Government of India (GoI) undertaking bank started in Amritsar. They were one of the six banks nationalized by the Government of India in April 1980, and today, they are one of 19 nationalized banks in India. The primary business of Punjab & Sind Bank is taking deposits and making advances and investments, and is divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services.
In retail banking, they provide loans and advances for housing, trade, automobiles, consumer durables, education and personal loans. They provide commercial banking products and services to corporate customers, including mid-sized and small businesses and government entities. As on July 31, 2010, their network comprised of 920 branches and 63 ATMs across India and had a total of 8,116 employees, serving over 0.60 crore customers.
|Particulars||For the year/period ended (in Rs. Crore)|
|Profit After Tax (PAT)||506.82||430.20||402.13||390.27||285.68|
The Object of the issue are:
1. To augment capital base to meet future capital requirement;
2. General corporate purposes.
»» Issue Open: Dec 13, 2010 - Dec 16, 2010
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: 40,000,000 Equity Shares of Rs. 10
»» Issue Size: Rs. 470.82 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 113 - Rs. 120 Per Equity Share
»» Market Lot: 50 Shares
»» Minimum Order Quantity: 50 Shares
»» Listing At: BSE, NSE
CARE Limited has assigned an IPO Grade 4 to Punjab & Sind Bank IPO. This means as per CARE, company has 'Above Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CARE IPO Grading Document for Punjab & Sind Bank.
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|Number of Times Issue is Subscribed (BSE + NSE)|
|As on Date & Time||QIB||NII||RII||Employee||Total|
|Shares Offered / Reserved||19,000,000||5,700,000||13,300,000||2,000,000||40,000,000|
|Day 1 - Dec 13, 2010 17:00 IST||2.9400||0.1800||0.4000||0.5100||0.6800|
|Day 2 - Dec 14, 2010 17:00 IST||6.2600||6.9000||2.0900||0.9200||4.7000|
|Day 3 - Dec 15, 2010 17:00 IST||49.8000||22.9100||8.3800||1.2200||29.7700|
|Day 4 - Dec 16, 2010 17:00 IST||49.8000||85.8400||44.4500||1.6100||50.7500|
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