Punjab & Sind Bank IPO receives subscription of 50.75 times

The Initial Public Offering (IPO) of Punjab & Sind Bank Limited has received subscription of 50.75 times till 8:30 PM on December 16, 2010. The IPO opened for subscription by investors on Monday - December 13, 2010.

The IPO has received total subscription of 2029886650 equity shares against the offer of 40000000 equity shares. The issue has received bids for 495854050 equity shares at cut-off price.

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

The Non Institutional Investors portion of the issue has received subscription of 85.84 times with bids for 489281450 equity shares against the offer of 5700000 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received bids for 591240650 equity shares against the offer of 13300000 equity shares resulting in a subscription of 44.45 times.

The Employee Reservation portion also received robust demand with bids for 3215200 equity shares against the offer of 2000000 equity shares resulting in a subscription of 1.61 times.

The IPO closed for subscription by QIB bidders on December 15, 2010 and closed for other investors on December 16, 2010.

Source : Equity Bulls

Keywords