The price band of second Punjab national bank IPO was fixed at Rs. 350 - Rs. 390 per share and was fixed through a 100% book building process.
Brief note on Punjab national bank
Punjab National Bank, one of the leading Indian public sector banks has been offering wide variety of banking products. It has been a pioneer in the area of personal banking and corporate banking. Its wide pool of products is tailor made to meet the needs of both individual and corporate customers.
The products offered by Punjab National Bank are easy to avail and are offered at competitive rates.
Details of Punjab national bank IPO
Punjab National Bank, the leading public sector bank of India launched its second Initial Public Offering in 2005. After the success of the first IPO launched in 2002, Punjab National Bank. The second Punjab national bank IPO was opened on 7th March 2005 and closed on 11th March 2005. The price band of Punjab national bank IPO was fixed at Rs. 350 - Rs. 390 per share.
This price band of Punjab national bank IPO was fixed through a 100% book building process. The issue offered 80,000,000 equity shares of Punjab National Bank of Rs. 10/- each for cash. Further, 8,000,000 equity shares of Rs 10/ each, at the issue price were reserved for the existing share holders. The upper end of the price band of Punjab national bank IPO targeted to raise Rs. 3,120 crores and the lower end targeted to raise Rs 2,800 crores. With this issue of Punjab national bank the government of India ownership was reduced to 57% from the last IPO.
