Indian IPO

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Friday, April 23, 2010

RBI approves Punjab & Sind Bank's IPO plan

The Reserve Bank of India has approved initial public offering (IPO) plan of Punjab and Sind Bank, reports CNBC-TV18 quoting government source.

CNBC-TV18 also learnt that Finance Ministry will approve Punjab & Sind's IPO plan in the next 15 days and this IPO is likely to hit markets by June-July 2010.

The bank aims to raise Rs 500 crore via IPO.

On April 21, the Finance Ministry said all banks needed RBI okay for IPO.


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