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Friday, December 17, 2010

Punjab and Sind Bank IPO closes with fabulous oversubscription

Punjab and Sind Bank IPO, which closed for subscription yesterday on Thursday, December 16, 2010, has been finally oversubscribed by excellent oversubscription figures, the overall subscription being a staggering 50.75 times. The IPO has been receiving a wonderful response from its opening and has seen solid support across the board from all the categories of investors

In the Retail Category, Punjab and Sind Bank IPO has received bids for 591240650 Equity Shares as against 13300000 Equity Shares offered / reserved for the category, thus lifting the oversubscription in the category to an extraordinary 44.45 times. Owing to this, the allotment to even the highest applicants in the Retail Category is expected to be on a lottery basis

The subscription in the QIB and HNI Category has also been concrete with those categories getting overbid 49.80 times and 85.84 times respectively. Besides, the Employees category is also fully subscribed at 1.61 times

Check back Indian IPO Blog for Punjab and Sind Bank IPO Allotment Status, Basis of Allotment, Listing Dates and other updates on Punjab and Sind Bank IPO!
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