 "Punjab & Sind Bank fixes floor price for QIP at Rs 40.38 per share")
State-owned Punjab & Sind Bank on Monday fixed the floor price of Rs 40.38 per share to raise funds through QIP.
The bank has proposed to raise Rs 2,000 crore through Qualified Institutional Placement (QIP).
The board in its meeting approved and adopted the preliminary placement document dated March 24, 2025, together with the application form in connection with the issue, Punjab & Sind Bank said in a regulatory filing.
The board also approved the floor price of the issue at Rs 40.38 based on the pricing formula as prescribed by Sebi regulations, it added.
The bank may offer a discount of not more than 5 per cent on the floor price so calculated for the issue, it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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