According to Mr. G.S. Vedi, Chairman and Managing Director, Punjab & Sindh Bank, the bank has decided to float its Initial Public Offer (IPO) in June with premium. After the issue, Govt's holding will come down to 82-83%.
The bank is targeting Rs.1 lakh crore of business by March 2011 and hopes to make a profit of Rs.500 crore this year.
Source: http://www.business-standard.com/india/news/punjabsind-bank/s-rs-500-crore-ipo-in-june/383272/
PUNJAB & SINDH BANK'S RS.500-CRORE IPO IN JUNE
Labels: BANKING N FINANCE
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