Punjab & Sind Bank IPO

Issue details
Issue size (in crs) 480
Bid/Issue opens on Dec 13th 2010
Bid/Issue closes on Dec 16th 2010
FV 10
Price Band Rs. 113-120
Object of the Issue
 - To augment the capital base to meet the future
capital requirements arising out of the growth in the
assets
 - General corporate purposes
Registrar to the Issue
 - Link Intime India Pvt
Book Running Lead Managers
 - SBI Capital markets Ltd
 - ENAM Securities Pvt Ltd
 - ICICI Securities Ltd
Capital Structure Amt ( Rs crs)
Authorised Capital 750.00
Capital subscribed before the issue 183.05
Issue 40.00
Equity capital after the issue 223.05

Punjab & Sind Bank is a GoI undertaking,
incorporated in Amritsar. In over 100 years
of operation, they have significantly grown
branch network with a presence
predominantly in north India. As on October
31, 2010, the network comprised of 926
branches and 63 ATMs across India. CAR
is maintained at 13.04% as on Sep 2010
according to Basel II norms.
Loan book of the bank consist of 57% of
corporate lending, followed by priority
sector and other sector lending 28% and
retail sector 15%.

Stock market update : This weekend

ICICI Bank yesterday made a smart comeback, surging nearly 6 per cent on the Bombay Stock Exchange (BSE), amid heavy buying. ICICI was the top performer of the day, while Mukesh Ambani's firm RIL displayed the third best show among the 30 blue-chip companies.

Equity diversified: Top gainers
L&T Small Cap Fund (G) up 2.89%
Sundaram S.M.I.L.E Fund - Regular Plan (G) up 2.67%
ICICI Pru Equity Opportunities Fund (G) up 2.55%
Equity diversified: Top losers
Birla Sun Life Commodity Equities -Global Agri Plan -Retail (G) down 1.13%
Franklin Asian Equity Fund (G) down 0.72%
Birla Sun Life Commodity Equities -Global Precious Metals -RP (G) down 0.55%
Tax saving funds: Top gainers
Birla Sun Life Tax Plan (G) up 1.96%
IDFC Tax Advantage (ELSS) Fund (G) up 1.89%
Taurus Tax Shield (G) up 1.80%
Tax saving funds: Top losers
No Losers
Sector funds: Top gainers
UTI Banking Sector Fund (G) up 2.61%
ICICI Pru Banking & Financial Services Fund - Retail Plan (G) up 2.55%
Religare Banking Fund - Regular Plan (G) up 2.40%
Sector funds: Top losers
JM Telecom Sector Fund (G) down 0.23%
Balanced funds: Top gainers
Reliance Regular Savings Fund - Balanced Option (G) up 1.47%
DSP BlackRock Balanced Fund (G) up 1.24%
Tata Balanced Fund (G) up 1.21%



SEBI rakes up issue of regulators' autonomy


In signs of renewed friction between the government and regulatory bodies, Sebi Chairman C B Bhave today questioned a proposal to park the watchdog's surplus funds in the Consolidated Fund of India.



HDFC Bank hikes lending rates

Private sector HDFC Bank joined the ranks of lenders like ICICI Bank and Punjab National Bank by hiking deposit and lending rates by up to 75 basis points.



IDBI Bank secures $100 Million import credit from Europe


Public sector lender IDBI Bank has secured a $100 million ECA (export credit agency) line of credit from Germany's DZ Bank.



Flat Products Equipments stock up by 8.6 percent


The Flat Products Equipments (CMI FPE) stock was among the top gainers after the price went up nearly by 8.6 percent.



S Kumars files DRHP for Reid & Taylor IPO


Textiles and apparel firm S Kumars Nationwide today said its subsidiary Reid & Taylor (India) has approached market regulator Sebi for permission to tap the capital market with an initial public offer.