Punjab and Sind Bank (PSB) IPO Review
Punjab and Sind Bank is going to public. It is the only state owned bank which is unlisted and get approval by SEBI to go public and raise Rs. 600 crore via initial public offer (IPO).
Let us today discuss about this IPO. I mean weather you should invest in this IPO or not?
Well, recently CARE has given this IPO 4 out of 5 star ratings.
CARE assigns IPO grades on a scale of Grade 5 to Grade 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals, the rating agency said in a statement.
This IPO is derived its 4 grade rating because right now its 100% ownership Control is with government of India which makes the bank lucrative investment post –IPO.
The bank is proposing an initial public offering (IPO) of 4,00,00,000 equity shares of face value of Rs 10 through 100 per cent book building process.
The bank is proposing an initial public offering (IPO) of 4,00,00,000 equity shares of face value of Rs 10 through 100 per cent book building process.
I personally advise you to fill this IPO as its one of the most fundamentally strong finance sector company. Let me tell you that, keep the shares of this bank for long time horizon because I have seen that most of the people buy shares during the IPO and sell them on the first day of listing for some quick profit.
These kind of stocks are goldmines and you should invest in them for the long time horizon. Anyways, So get ready for this IPO.
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