The board of directors of the bank authorized and declared the opening of the issue on Monday, 24 March 2025.
The floor price of Rs 40.38 is at a discount of 9.42% to the scrip’s previous closing price of Rs 44.58 on the BSE.
The bank may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined by the bank in consultation with the book-running lead manager appointed for the issue.
Punjab and Sind Bank is a leading public sector bank and a major bank in northern India. The bank provides customer service through innovative products and services for different customer segments.
The company’s standalone net profit surged 146.7% to Rs 281.96 crore in Q3 FY25 as compared with Rs 114.31 crore in Q3 FY24. Total income jumped 14.6% YoY to Rs 3,269.37 crore in Q3 FY25.