Punjab & Sind Bank — Important, 18-12-2024: Updates

The Bank has undertaken a significant fundraising initiative by issuing Long Term Bonds worth ₹3,000 crore on a private placement basis. The response from investors was notably strong, with total bids reaching ₹6,031 crore, indicating an oversubscription of 12.06 times against the initial base issue size of ₹500 crore. The accepted bids carry a coupon rate of 7.74% per annum, and the bonds will have a face value of ₹1 lakh each, amounting to 3,00,000 bonds in total. The issue opened and closed on the same day, December 18, 2024, with the deemed date of allotment set for December 20, 2024. This successful bond issuance positions the Bank favorably for future growth initiatives while providing a positive outlook for investors seeking stable income through fixed-income securities.