:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

PUNJAB & SIND BANK IPO LIKELY NEXT MONTH

According to Mr. G.S. Vedi, Chairman and Managing Director, Punjab & Sind Bank, the bank is likely to come out with an initial public offer next month to sell 25 per cent government stake. Currently, the government owns 100 per cent stake in the bank.

Earlier, the bank was planning to dilute around 17 per cent stake but with the new 25 per cent public shareholding norms, the bank plans to offload 25 per cent stake.

Earlier, it was planning to raise Rs 400-500 crore with an equity dilution of 17 per cent but now with the revised offer it plans to mop up over Rs 500 crore.

The government had on June 4 announced that all the listed companies should increase their public holding to a minimum of 25 per cent in a phased manner and the equity dilution of at least 5 per cent annually was made mandatory for reaching threshold limit.

Punjab & Sind Bank has already appointed three merchant bankers, including SBI Caps, for its proposed public offer. Besides SBI Caps, the other book running lead managers are ICICI Securities and Enam Securities, for the initial public offer.

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