3. Punjab & Sind
Bank, the only
unlisted state-
owned lender,
has got market
market
regulator Sebi
approval for its
estimated
Rs.600 crore
IPO likely to
hit the market
by November
end.
Sebi on
Tuesday gave
clearance to
the draft
prospect filled
by Punjab &
Sind Bank.
The bank
proposes to
issue up the 4
crore equity
shares of
Rs.10 each for
cash at price
to be
discovered
through 100%
book building
process.
The
government
would about
17.9% of its
stake through
IPO and post-
offer, its holding
would come
down to about
82%
4. Allahabad Bank
plans to raise up
to Rs.1400 cr. In
Tier-II during the
second half of the
current fiscal year.
Mr. Dua the managing
director said the bank
has applied for RBI
approval for 3
branches in Shnaghai,
Dhaka, and a second
branch at kowloon in
Honk kong.
The bank will
open 47 bank
branches
during the fiscal
year.
5. Nimbus communication, known for its Neo cricket and Neo
Sport channel, plans to raise around Rs. 900 Cr. through its
IPO in January.
The company propose to issue 22,500,000 equity shares,
which company fresh issue of 14,040,000 equity shares and
offer to sale of 8,010,000 equity shares in January.
The company has drawn up a Rs.350 crore capital
expenditure plan, which will be met through the IPO.
