Punjab and Sind Bank

Grade 4 by CARE
3.96/5 from 67 Votes

Punjab & Sind Bank is a major bank in Northern India. Of its almost 900 branches and offices spread throughout India, almost 400 are in Punjab state, though the bank's corporate headquarters is in New Delhi.


Punjab & Sind Bank provides various banking products and services. Its deposit products include current, savings, fixed, term, and recurring deposits. The company’s loan portfolio comprises housing, trade, automobiles, consumer durables, education, and personal loans, as well as term loans, short-term loans, cash and export credit, working capital financing, bill discounting, and letters of credit and guarantee.


Punjab & Sind Bank also offers non-resident Indian services consisting of non resident (external) rupee accounts, foreign currency non-resident accounts, ordinary non-resident accounts, investments on repatriation and non-repatriation basis, investments in immovable property, and transfer of funds facility through Western Union. In addition, the company provides syndication of loans and other fee-based services, such as cash management and remittance services; direct financing to farmers for production, as well as indirect financing for infrastructure development and credit to suppliers of agricultural inputs; automated teller machine (ATM) and credit cards; locker facilities; treasury services; electronic fund transfer services; and agency functions for insurance, distribution of mutual funds, and pension and tax collection services.


Punjab & Sind Bank was founded in 1908.


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Objects of the issue:

» Augment its capital base to meet the future capital requirements arising out of the growth in its assets due to the growth of the Indian economy.
» General Corporate Purposes
» Meeting the expenses of the Issue

Company Address:

Address:
‘Bank House’,
21, Rajendra Place,
New Delhi 110 008
Contact Person and Compliance Officer: Mr. A.P.S. Teji
Tel: (+91 11) 2581 2922
Fax: (+91 11) 2581 2922
Phone:(+91 11) 2572 0849
Fax:(+91 11) 2578 1639
Email:complianceofficer@psb.org.in
Website:psbindia.com

IPO Details:

Information Value
Open Date13-Dec-2010
Close Date16-Dec-2010
Allotment Date27-Dec-2010
Refund Date28-Dec-2010
Listing Date30-Dec-2010
Issue PriceRs. 113 - Rs. 120
Isuue Type100% Book Building Issue
Issue Size4,00,00,000 Equity Shares of Rs. 10
Lot Size» Minimum : 50 Shares
» Maximum : 1650 (for Retail)
Max Amount for Retail Investor200000
Listing OnBSE,NSE
Lead ManagerSBI Capital Markets Ltd, ENAM Securities Pvt. Ltd & ICICI Securities Ltd
RegistrarLink Intime India Pvt Ltd
Registrar Emailpsb.ipo@linkintime.co.in
Registrar Websitewww.linkintime.co.in
Registrar Phone(+91 22) 2596 0320
Application Multiple50 and in multiples there off starting with atleast 50 shares
Cheque in Favour of"Escrow Account - Punjab & Sind Bank Public Issue - R" For Retail Bidders
Listing OpenRs. 146.10 / Rs. 144 (BSE/NSE)
Listing CloseRs. 127.05 / Rs. 127.15 (BSE/NSE)
Listing HighRs. 149.70 / Rs. 146.70 (BSE/NSE)
Listing LowRs. 126.20 (BSE/NSE)
Prospectus Download Download
Application Forms Download Download
ASBA E-Form Download Download
IPO Grading Download Download

Punjab and Sind Bank Financial Details:

Punjab & Sind Bank: Financials
Particulars 1009(06) 1003(12) 0903(12) 0803(12) 0703(12)
Interest Earned 2306.62 3934.17 3247.17 2219.29 1691.67
Interest Expended 1526.02 2750.23 2235.31 1433.50 959.86
Net Interest Income 780.60 1183.94 1011.86 785.79 731.81
Other Income 216.33 392.13 383.54 309.14 227.71
Net Total Income 996.93 1576.07 1395.40 1094.93 959.52
Operating Expenses 484.35 708.07 667.31 577.30 497.17
Operating Profits Before EO 512.58 868.00 728.09 517.63 462.35
EO 0.00 0.69 0.00 0.00 6.29
Operating profits after EO before Provisions & Contingencies 512.58 868.69 728.09 517.63 468.64
Provisions & Contingencies 112.91 211.10 82.88 79.74 73.36
Profit Before Tax 399.67 657.59 645.21 437.89 395.28
Provision for tax 123.29 156.46 210.80 48.32 5.01
Net Profit 276.38 501.13 434.41 389.57 390.27
EPS*(Rs) 24.8 22.4 19.5 17.5 17.2
* Annualized on post-IPO equity of Rs. 223.06 crore. Face Value: Rs. 10 Figures in Rs. crore LP : Loss to profit ; PL : Profit to loss

Total income of the bank has grown at CAGR of 31% from FY 2007 to FY 2010. Over the same period, the CAGR in net interest income, PBT before provisions and net profit stand at 17.4%, 22.9% and 8.8%, respectively.

Between FY 2007 to FY 2010, deposits have grown at a CAGR of 36.5% to Rs. 49155.08 crore as on 31st March 2010. Term deposit forms 75% of the total deposit base at end of FY 2010. As such, the proposition of low cost deposit has come down from 46% at end of FY 2007 to 25% at end of FY 2010.

For the year ended March 2010 (FY 2010), it reported a 38% rise in the business mix to Rs. 81794.19 crore. There was a 15% increase in net profit to Rs. 501.13 crore on the back of a 17% increase in the net interest income (NII) to Rs. 1183.94 crore. NIM for FY 2010 declined from 3.24% to 2.67% due to dual effect of increase in high cost deposits and decline in yield.

The credit-deposit ratio declined from 70.99% to 66.6%. Share of investment in total assets marginally increased from 31% to 32% due to investment in bonds and certificates of deposits whereas share of advances to total assets remained in range of 58% to 60%.

For the half-year ended September 2010, the bank reported a net profit of Rs. 276.38 crore on the back of Rs. 780.6 crore of NII. Total business stood at Rs. 88659.83 crore, with deposits of Rs. 52945.08 crore and advances of Rs. 35714.75 crore. NIM stood at 3.0%. Asset quality improved with gross NPA coming down from 1.01% to 0.92% and Net NPA from 0.49% to 0.44% on y-o-y basis. CAR stood at 13.04% as on 30 September 2010.

Between FY 2007 to FY 2010, advances have grown at a CAGR of 40.7% to Rs. 32639.11 crore as on 31 March 2010. As on 31st March 2010 retail lending accounts for 15%, corporate around 51% while others including priority sector is 33%. For H1 FY 2011, advances stood at Rs. 35714.75 crore of which retail lending accounts for 15%, corporate around 57% while others including priority sector is 28%

Asset quality has improved over the years. The net NPA ratio has come down from 8.4% in 2005 to presently 0.44% for H1 FY 2011. As of September 30, 2010, concentration of NPAs was mostly in gems and jewellery (18%), textiles (3%), food processing (1%), rubber and rubber products (0.22%), metal and metal products (6%) and vegetable oils (10%). As of September 30, 2010, approximately 23% of its gross NPAs were concentrated in the real estate sector.

As on 31 March 2010, total restructured assets increased by 19% to Rs. 636.16 crore forming 1.94% of gross advance and 29% of tangible net worth. As on 30 September 2010, total restructured assets stood at Rs. 971 crore forming 2.71% of loan asset. The provision coverage including technical write-offs stood at 89.62% as on 31st March 2010. For 30 September 2010, the coverage ratio was at 86.83%.

Punjab and Sind Bank Grey Market Price - Premium - Rates

Warning: Do not subscribe to any IPO's on the basis of grey market price or IPO Forecast. Please check the fundamentals of the company before applying. Use grey market price as an information tool.

Date GM Premium Kostak Rate
09-Dec-2010Rs. 25 - 30Rs. 2300 - 2700
10-Dec-2010Rs. 30 - 35Rs. 2200 - 2500
13-Dec-2010Rs. 30 - 35Rs. 2300 - 2500
14-Dec-2010Rs. 35 - 38Rs. 2200 - 2500
15-Dec-2010Rs. 33 - 36Rs. 2200 - 2500
16-Dec-2010Rs. 31 - 34Rs. 2200 - 2400
20-Dec-2010Rs. 30 - 32----
21-Dec-2010Rs. 30 - 32----
22-Dec-2010Rs. 30 - 33----
23-Dec-2010Rs. 30 - 33----
24-Dec-2010Rs. 30 - 32----
27-Dec-2010Rs. 30 - 32----
28-Dec-2010Rs. 30 - 31----
29-Dec-2010Rs. 30 - 31----

Punjab and Sind Bank Subscription Details:

Date Retail QIB Non Institutional Employee Overall
13-Dec-20100.402.940.180.511.58
14-Dec-20102.096.266.900.924.70
15-Dec-20108.3849.8022.911.2229.77
16-Dec-201044.4549.8085.841.6150.75

Punjab and Sind Bank Basis of allotment:

(This is only an advertisement for Information purposes not for publication or distribution, directly or indirectly outside india, and not a prospectus announcement.)

PUNJAB & SIND BANK

Constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (Bank Acquisition Act) on April 15,1980. The Bank was incorporated on June 24,1908, as The Punjab and Sind Bank Limited', with its registered office at Hall Bazar, Amritsar, Punjab, India. The Bank was nationalised under the Bank Acquisiton Act on April 15,1980 and its name was changed to 'Punjab & Sind Bank'. For details of changes in the head office of the Bank, see "History and Certain Corporate Matters" on page 134 of the Prospectus. Head Office: 'Bank House', 21, Rajendra Place, New Delhi 110 008, India Tel: (+91 11) 2572 0849 Fax: (+91 11) 2578 1639. Contact Person and Compliance Officer: Mr. A.P.S. Teji Tel: (+91 11) 2581 2922 Fax: (+91 11)2581 2922 E-mail: complianceofficer@psb.org.in
Website: www.psbindia.com

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 4,00,00,000 EQUITY SHARES OF RS. 10 EACH (THE "EQUITY SHARES") FOR CASH AT A PRICE OF RS.120* PER EQUITY SHARE OF PUNJAB & SIND BANK ("THE BANK" OR "THE ISSUER") AGGREGATING RS. 470.82 CRORE (THE "ISSUE"). THE ISSUE COMPRISES A NET ISSUE TO THE PUBLIC OF 3,80,00,000 EQUITY SHARES (THE "NET ISSUE") AND A RESERVATION OF 20,00,000 EQUITY SHARES FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (AS DEFINED IN THE RED HERRING PROSPECTUS AND THE PROSPECTUS) (THE "EMPLOYEE RESERVATION PORTION"), AT THE ISSUE PRICE. THE ISSUE SHALL CONSTITUTE 17.93% OF THE POST-ISSUE SHARE CAPITAL OF THE BANK. THE NET ISSUE SHALL CONSTITUTE 17.04% OF THE POST-ISSUE SHARE CAPITAL OF THE BANK.

Issue opened on December 13,2010. Issue closed on December 15,2010 for QIB Bidders and on December 16,2010 for Non QIB Bidders

THE FACE VALUE OF THE EQUITY SHARES IS RS 10 EACH. THE ISSUE PRICE IS RS 120* AND IS 12.0 TIMES THE FACE VALUE OF THE EQUITY SHARES.

Discount of Rs. 6, i.e. 5% to the Issue Price was offered to Retail Individual Bidders "Retail Discount") and Eligible Employees (the "Employee Discount"), respectively. The excess amount paid at the time of Bidding shall be refumled to Retail lndividual Bidaers and Eligjble Employees within 12 working days of the Bid/issue closing date.

Promoter: The President of India, acting through the Ministry of Finance, Government of India

The Equity Shares of the Bank are proposed to be listed on the Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and the trading will commence on December 30,2010.
In terms of Rule 19(2)(c) of the Securities Contracts (Regulation) Rules, 1957, as amended, (the "SCRR") as applicable to public sector undertakings, this being an Issue for at least 10% of the post-Issue paid up equity share capital, the Issue is being made through the Book Building Process wherein up to 50% of the Net Issue will be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"). Further 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder shall be available for allocation on a proportionate basis to QIBs and Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. Further, not less than 15% of the Net Issue will be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue will be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. Further, 20,00,000 Equity Shares shall be made available for allocation on a proportionate basis to the Eligible Employees, subject to valid Bids being received at or above the Issue Price.
The Issue received 699,882 applications for 2,014,647,800 equity shares resulting in 50.3662 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional Bidders, Retail Individual Bidders and Eligible Employees categories are as under: (Before Technical Rejections)

Category No. of Applications No. of Shares No. of Times of Subscription
A Retail Individual Bidders 692,085 579,192,000 43.5483
B Non-Institutional Bidders 921 486,181,600 85.2950
C Qualified Institutional Buyers 160 945,986,200 49.7887
D Employees 6,716 3,288,000 1.6440
Total 699,882 2,014,647,800 50.3662

Final Demand
The final demand at different bid prices as per the electronic bid files provided by the Exchanges is as under:

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulatfve % to Total
113 13,601,500 0.659 13,601,500 0.659
114 1,440,650 0.070 15,042,150 0.729
115 7,851,950 0.380 22,894,100 1.109
116 5,473,350 0.265 28,367,450 1.374
117 4,165,100 0.202 32,532,550 1.576
118 3,605,150 0.175 36,137,700 1.750
119 187,850 0.009 36,325,550 1.759
120 1,532,443,950 74.222 1,568,769,500 75.982
CUT-OFF 495,898,950 24.018 2,064,668,450 100.000
TOTAL 2,064,668,450 100.000

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on December 27, 2010.

A. Allocation to Employees (After Technical Rejections)
The Basis of Allocation to the Employees, who have bid at cut-off or at the Issue Price of Rs 120 per Equity Share (RS 6 discount on the Issue Price was given to the employees on allotment and hence the net issue price for this category is RS 114 per Equity Share), was finalized in consultation with BSE. This category has been over subscribed to the extent of 1.5608 times (after technical rejections). The total number of shares allotted in Employee category is 20,00,000 Equity Shares to 6,289 successful applicants. The category-wise details of the Basis of Allotment are (sample) as under

Category No. Of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
50 152 2.4 7,600 0.24 50 10:13 5,800
100 593 9.38 59,300 1.9 64 1:1 37,952
150 109 1.72 16,350 0.52 96 1:1 10,464
150 1 1:10 10
200 634 10.02 126,800 4.06 128 1:1 81,152
250 687 10.86 171,750 5.5 160 1:1 109,920
300 603 9.53 180,900 5.8 192 1:1 115,776
350 41 0.65 14,350 0.46 224 1:1 9,184
400 561 8.87 224,400 7.19 256 1:1 143,616
750 24 0.38 18,000 0.58 481 1:1 11,544
800 230 3.64 184,000 5.89 513 1:1 117,990
850 60 0.95 51,000 1.63 545 1:1 32,700
900 17 0.27 15,300 0.49 577 1:1 9,809
950 2 0.03 1,900 0.06 609 1:1 1,218
1000 385 6.09 385,000 12.33 641 1:1 246,785
1350 1 0.02 1,350 0.04 865 1:1 865
1400 7 0.11 9,800 0.31 897 1:1 6,279
1500 53 0.84 79,500 2.55 961 1:1 50,933
1600 26 0.41 41,600 1.33 1025 1:1 26,650
1650 338 5.34 557,700 17.87 1057 1:1 357,266

B. Allocation to Retail Individual Bidders (After Technical Rejections)
The Basis of Allocation to the Retail Individual Bidders, who have bid at cut-off or at the Issue Price of RS 120 per Equity Share (RS 6 discount on the Issue Price was given to the Retail Individual Bidders and hence the net issue price for this category is RS 114 per Equity Share), was finalized in consultation with BSE. This category has been oversubscribed to the extent of 43.2014 times (after technical rejections). The total number of shares allotted in Retail Individual Bidders category is 13,300,000 Equity Shares to 266,000 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category No. Of Applns. % to total Total No. of Equity Shares applied % to total No. of Equity Shares allocated Ratio Total No. of Equity Shares allocated
50 34684 5.07 1,734,200 0.3 50 2:79 43,800
100 47930 7.01 4,793,000 0.83 50 3:65 110,600
150 21022 3.07 3,153,300 0.55 50 5:72 73,000
200 37626 5.5 7,525,200 1.31 50 5:54 174,200
250 19484 2.85 4,871,000 0.85 50 11:95 112,800
300 18721 2.74 5,616,300 0.98 50 5:36 130,000
350 7430 1.09 2,600,500 0.45 50 6:37 60,250
400 30567 4.47 12,226,800 2.13 50 5:27 283,050
450 7234 1.06 3,255,300 0.57 50 5:24 75,350
500 29607 4.33 14,803,500 2.58 50 22:95 342,800
550 4271 0.62 2,349,050 0.41 50 14:55 54,350
600 9713 1.42 5,827,800 1.01 50 5:18 134,900
650 3692 0.54 2,399,800 0.42 50 22:73 55,650
700 5365 0.78 3,755,500 0.65 50 12:37 87,000
750 8256 1.21 6,192,000 1.08 50 17:49 143,200
800 149386 21.85 119,508,800 20.8 50 10:27 2,766,400
850 16299 2.38 13,854,150 2.41 50 24:61 320,650
900 5511 0.81 4,959,900 0.86 50 5:12 114,800
950 1479 0.22 1,405,050 0.24 50 11:25 32,550
1000 14901 2.18 14,901,000 2.59 50 25:54 344,950
1050 1951 0.29 2,048,550 0.36 50 17:35 47,400
1100 2108 0.31 2,318,800 0.4 50 28:55 53,650
1150 1217 0.18 1,399,550 0.24 50 8:15 32,450
1200 2582 0.38 3,098,400 0.54 50 5:9 71,700
1250 4960 0.73 6,200,000 1.08 50 11:19 143,600
1300 1364 0.2 1,773,200 0.31 50 56:93 41,050
1350 1086 0.16 1,466,100 0.26 50 5:8 33,950
1400 1453 0.21 2,034,200 0.35 50 24:37 47,100
1450 888 0.13 1,287,600 0.22 50 45:67 29,800
1500 4248 0.62 6,372,000 1.11 50 25:36 147,500
1550 1606 0.23 2,489,300 0.43 50 33:46 57,600
1600 7286 1.07 11,657,600 2.03 50 20:27 269,850
1650 179819 26.3 296,701,350 51.64 50 71:93 6,864,050

C. Allocation to Non-Institutional Bidders (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Bidders, who have bid at at the Issue Price of RS 120 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 85.1597 times (after technical rejections). The total number of equity shares allotted in this category is 5,700,000 equity shares to 818 successful applicants. The category-wise details of the Basis of Allotment are (Sample) as under:

Category No. Of Applns. % to total Total No. of Shares applied % to total No. of Shares allocated Ratio Total No. of Shares allocated
1700 52 5.77 88,400 0.02 50 19:52 950
1750 34 3.77 59,500 0.01 50 7:17 700
1800 4 0.44 7,200 0 50 1:2 100
1900 2 0.22 3,800 0 50 1:2 50
2000 18 2 36,000 0.01 50 4:9 400
2500 17 1.89 42,500 0.01 50 10:17 500
3000 4 0.44 12,000 0 50 3:4 150
3300 8 0.89 26,400 0.01 50 3:4 300
3400 3 0.33 10,200 0 50 2:3 100
4200 11 1.22 46,200 0.01 50 1:1 550
6010000 1 0.11 6,010,000 1.24 70573 1:1 70,573
6250000 1 0.11 6,250,000 1.29 73392 1:1 73,392
7480000 1 0.11 7,480,000 1.54 87835 1:1 87,835
18300000 2 0.22 36,600,000 7.54 214882 1:1 429,764
18750000 1 0.11 18,750,000 3.86 220165 1:1 220,165
38000000 1 0.11 38,000,000 7.83 446200 1:1 446,200

D. Allocation to QIBs
Allocation to QIBs has been done on a proportionate basis in consultation with BSE. In accordance with the SEBI (ICDR) Regulations, Mutual Funds were initially allocated 5% of the quantum of shares available (950,000 Equity Shares), and other QIBs were allocated the remaininq available shares (18,050,000 Equity Shares) on proportionate basis.

Category Fls/Banks Flls MFs ICs VCs Total
No.of Shares 8,431,579 6,728,016 2,371,146 1,461,257 8,002 19,000,000

The Board of Directors of the Issuer at its Meeting held on December 27,2010 has taken on record the basis of allocation of shares approved by the Designated Stock Exchange viz., Bombay Stock Exchange Limited ("BSE") and has authorized the Corporate Action for the transfer of the shares to various successful applicants. The refund order and allotment advice and/ or notices have been dispatched to the address of the investors as registered with the depositories, on or prior to December 28,2010. In case the same is not received within ten days, investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Account details as registered, if any, with the depositories. The shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. Further, the instructions to Self Certified Syndicate Banks have been dispatched / mailed on December 27,2010. The Bank has filed listing applications with the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE) vide letters dated December 28,2010.

INVESTORS PLEASE NOTE
These details of the allocation made would be hosted on the website of Registrar to the Issue, Link Intime India Private Limited on www.linkintime.co.in
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicant, Serial number of the bid-cum-application form, number of shares bid for, name of the Member of the Syndicate, Place where the bid was submitted and payment details at the address given below:

Link Intime India Private Limited
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai 400 078
Tel: +9122 2596 0320, Fax: +9122 2596 0329. E-mail ID: psb.ipo@linkintime.co.in

Place: New Delhi
Date: 28th December, 2010
For Punjab & Sind Bank
Mr.A.P.S.Teji
Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF PUNJAB & SIND BANK,

Punjab & Sind Bank is proposing to make, subject to market conditions and other considerations, a public offer of securities and has filed a Prospectus with the Securities & Exchange Board of India ("SEBI"), the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited. The Prospectus is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers at www.enam.com, www.sbicaps.com and www.icicisecurities.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled "Risk Factors" of the Prospectus. This advertisement does not constitute an offer of securities for sale or the solicitation of any offerto buy securities in any jurisdiction, including the United States. Securities may not be offered or sold in the United States absent registration under theU.S. Securities Act of 1933, as amended (the "US Securities Act"), or an exemption therefrom. The Equity Shares have not been and will not be registered under the U.S. Securities Act or any state securities laws in the United States and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with any applicable U.S. state securities laws. The Equity Shares are being offered and sold only outside the United States in compliance with Regulation S under the U.S. Securities Act and the applicable laws of each jurisdiction where such offers and sales occur. No money, securities or other consideration from any person inside
the United States is being solicited and, if sent in response to the information contained in this advertisement, will not be accepted.

Forecasts for Punjab and Sind Bank

Please Note: Forecast or Predictions changes time to time according to market conditions. Do your homework before applying, Do not subscribe to any IPO's on the basis of grey market price or IPO Forecast. This is an informational tool for retail investors.

Type Forecast
Subscription» It should subscribe 35 to 50+ times in the retail category.
Allotment» Updated : 1 out of 4 investor would get 50 shares for the application of Rs. 2 lakh.
» Allotment will be lottery based.
» Updated : 1 out of 8 investor would get 50 shares for the application of Rs. 1 lakh.
» 1 out of 44 investor would get 50 shares for the application of minimum 50 shares.
Listing» It may list around Rs. 145 to 155.
» In the good market conditions it can see the intraday levels of Rs. 170+.




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