Robust demand from bidders saw the initial public offer of Punjab & Sind Bank (PSB) getting subscribed 29.77 times on the third day of issue today, garnering demand worth Rs 14,287 crore.
The company's Rs 480-crore stake sale has so far received bids for 119 crore shares, against 4 crore equities on offer, as per data available on the National Stock Exchange (NSE) till 1700 hours.
The public offer of the state-run lender has been fixed in the price band of Rs 113-120 per share. At the lower end of the price-band, the issue will fetch Rs 452 crore to the bank, while on the upper end, it will mop up Rs 480 crore.
For the QIB bidders the issue closed today, while for other bidders the offer will end tomorrow.
SBI capital markets limited, Enam securities private limited and ICICI securities limited are the leading book running managers to the issue.
