Punjab & Sind Bank IPO QIB portion subscribed 49.80 times

The Initial Public Offering (IPO) of Punjab & Sind Bank Limited has received overwhelming response from Qualified Institutional Buyers (QIBs).

The Qualified Institutional Buyers (QIBs) portion has received subscription of 49.80 times with bids for 946149350 equity shares against the offer of 19000000 equity shares.

Under QIB portion, Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) have applied for 517689700 equity shares followed by Foreign Institutional Investors (FIIs) who have bid for 351631200 equity shares.

Mutual Funds have bid for 75356200 equity shares and Others have bid for 1472250 equity shares.

The IPO which opened for subscription by investors on December 13, 2010, closed for subscription by QIB bidders on December 15, 2010. The issue closes for subscription by other investors tomorrow - December 16, 2010.

Source : Equity Bulls

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