Analysis and Insights into the world of IPOs and investing in India

Wednesday, December 8, 2010

Punjab and Sind Bank IPO - Discount to Retail Investors

The price band for the IPO of Punjab and Sind Bank, the only unlisted state-owned bank is fixed at Rs.113/- to Rs.120/- per equity share.

Retail Investors would be entitled to a discount of 5% on the final issue price which will be decided after the closure of the issue. This implies that if the final issue price is decided at the upper end of the price band, then Retail Investors would get a discount of Rs.6/- per share and a discount of Rs.5.65 per share in case the price is decided at the lower end of the price band

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
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