Punjab & Sind Bank IPO Retail Portion garners subscription of 44.45 times

Punjab & Sind Bank Limited IPO has received overwhelming response from Retail Individual Investors (RIIs). The Retail Individual Investors (RIIs) portion of the issue has received subscription of 44.45 times with bids for 591240650 equity shares against the offer of 13300000 equity shares.

Under the Retail Individual Investors (RIIs) portion, 492692900 equity shares were subscribed at cut-off price and bids for 98547750 equity shares were price bids.

The Retail Individual Investors (RIIs) portion of Government IPOs / FPOs have been receiving excellent response after SEBI increased the maximum subscription limit of retail investors to Rs.200000. The IPO closed for subscription by Retail Individual Investors (RIIs) on December 16, 2010.

Source : Equity Bulls

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