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Punjab & Sind Bank allots 9.89 crore equity shares to Government

Punjab & Sind Bank has allotted around 9.89 crore equity shares of the face value of Rs 10 each at an issue price of Rs 79.50 per Equity Share (including premium of Rs 69.50 per Equity Share) on preferential basis to the President of India (Govt. of India) on November 22, 2019.

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.

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