Punjab & Sind Bank to dole out IPO in June-July

Punjab & Sind Bank today said it will come out with initial public offer (IPO) during June-July this year.

"We are expecting government approval (for IPO)... The IPO could hit the market in June-July," Punjab & Sind Bank Chairman and Managing Director G S Vedi told reporters here.

For the year, ended March 2010, the bank has posted a net profit of Rs 508.8 crore compared to Rs 431 crore, a year ago.