Punjab & Sind Bank zooms on planning to raise Rs 250 crore via share sale to institutional investors

Punjab & Sind Bank | Bank - Public | BFSI | BSE: 533295 | NSE: PSB

04 Sep 2023 Evaluate

Punjab & Sind Bank is currently trading at Rs. 36.86, up by 2.09 points or 6.01% from its previous closing of Rs. 34.77 on the BSE.

The scrip opened at Rs. 34.90 and has touched a high and low of Rs. 36.99 and Rs. 34.90 respectively. So far 151777 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 44.65 on 15-Dec-2022 and a 52 week low of Rs. 14.65 on 27-Sep-2022.

Last one week high and low of the scrip stood at Rs. 37.24 and Rs. 34.06 respectively. The current market cap of the company is Rs. 24535.59 crore.

The promoters holding in the company stood at 98.25%, while Institutions and Non-Institutions held 0.66% and 1.09% respectively.

Punjab & Sind Bank has planned to raise Rs 250 crore through share sale to institutional investors in the third quarter of the current fiscal. The bank has got approvals for capital raising of Rs 250 crore via Qualified Institutional Placement (QIP) in the next quarter.

It will help achieve the twin objective of capital raising and dilution of the government's holding in the bank. Government of India holds a 98.25 per cent stake in the bank which was listed on the stock exchanges in 2010. The government's nod is also in place for the capital raising.

Punjab & Sind Bank’s primary business is taking deposits, and making advances and investments, and is principally divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services.

Punjab & Sind Bank Share Price

24.81 -0.10 (-0.40%)

04-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
SBI	1068.30
PNB	108.80
Canara Bank	134.90
Bank Of Baroda	265.10
Union Bank Of India	163.70
View more..

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