Punjab & Sind Bank IPO Retail Portion garners subscription of 8.38 times

Punjab & Sind Bank Limited IPO has received very good response from Retail Individual Investors (RIIs). The Retail Individual Investors (RIIs) portion of the issue has received subscription of 8.38 times with bids for 111500100 equity shares against the offer of 13300000 equity shares.

Under the Retail Individual Investors (RIIs) portion, 75168400 equity shares were subscribed at cut-off price and bids for 36331700 equity shares were price bids.

The Retail Individual Investors (RIIs) portion is expected to garner between 20-25 times subscription. The IPO closes for subscription by Retail Individual Investors (RIIs) on December 16, 2010.

Source : Equity Bulls

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