Punjab National Bank (PNB) plans to announce the price-band for the second public issue of eight crore equity shares on March 4, according to CMD S.S. Kohli."We are not announcing the price-band for the issue as per Sebi instructions as it leads to fluctuations in prices at stock exchanges. We will, however, announce the price-band on March 4 so that there is no fluctuation in price," Kohli said.The issue would remain open for subscription from March 7 to 11.About restructuring, Kohli said it would be the second such move after the one in 1999 that dealt with, among others, HRD and risk management issues."Our second restructuring as per the recommendations of the Boston Consulting Group (BCG) would primarily deal with four issues - product affordability, integrated risk management, centralisation of back office and organisational restructuring of the four tier system to three tier," he said.Kohli said the second round of restructuring would also deal with utilisation of surplus staff for other services like selling products of mutual funds, insurance, debit card, credit card, recovery of NPAs and marketing of the bank itself.Work has started on some of the recommendations, and Kohli hopes that the entire restructuring would be completed in the next 12 months.
