State-owned Punjab and Sind Bank will list its equity shares, which issued recently via public issue, on exchanges on December 30, 2010. It has fixed issue price at higher end of price band of Rs 113-120 a share. However, equity shares issued to retail investors and employees at Rs 114 a share - 5% (Rs 6) discount to issue price.
The bank raised Rs 470.82 crore through IPO, which was subscribed 50.75 times. Reserved portion of QIBs subscribed 49.80 times. Non-institutional and retail investors' portion subscribed 85.84 times and 44.45 times, respectively. The employee portion subscribed 1.61 times.
you can buy this grade 4 IPO stock in the opening to get some intraday gains. also u can hold it for medium and long terms.
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