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Punjab & Sind Bank Closes QIP, Shares Surge Over 13% on Positive Sentiment

Synopsis:

Punjab & Sind Bank has concluded its QIP at ₹38.37 per share, raising ₹2,000 crore. Shares surged 13% intraday to ₹50.5, marking the biggest gain since January 14, 2025. The lender’s capital adequacy ratio is set to rise significantly.


Punjab & Sind Bank has successfully completed its Qualified Institutional Placement (QIP) at an issue price of ₹38.37 per share. This strategic move aims to bolster the bank's capital base while also paving the way for future growth and stability. The bank had initially set the floor price at ₹40.38 per share but offered a discount as per SEBI guidelines. The QIP raised ₹2,000 crore, significantly boosting the bank’s capital adequacy ratio, which is expected to rise by the end of March 2025.

The successful QIP announcement triggered an impressive rally in Punjab Sind Bank share price, surging by 13% intraday to ₹50.5 per share, the highest gain since January 14, 2025. However, the stock settled at ₹48.18 per share, reflecting a 7.8% increase compared to the 0.31% rise in Nifty 50. Despite the positive sentiment, the stock remains 1.29% lower this year, although it has witnessed a 25% surge since its March low of ₹36.9. The bank's market capitalisation currently stands at ₹32,269.04 crore.

Also read: BEL Secures Orders Worth ₹1,385 Crore, FY25 Order Book at ₹18,415 Crore

PUNJAB & SIND BANK

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28.97-0.90 (-3.01 %)

Updated - 25 April 2025
29.99day high
DAY HIGH
28.88day low
DAY LOW
3936624
VOLUME (BSE)

Key Takeaways

  1. QIP Success: Raised ₹2,000 crore via QIP at an issue price of ₹38.37 per share.

  2. Share Price Surge: Shares soared 13% intraday to ₹50.5 before closing at ₹48.18.

  3. Market Capitalisation: Currently valued at ₹32,269.04 crore.

  4. Capital Adequacy Ratio: Expected to rise by March 2025.

  5. Government Stake: Reduced by 3-4% post-QIP from the existing 98.25%.

  6. Profit Growth: Net profit more than doubled to ₹282 crore in Q3 FY2024.

  7. Stock Movement: Surged 25% since March 2025 lows despite overall decline this year.

Also read: CG Power Faces Extended Bank Account Freeze, No Financial Impact Claimed

Punjab & Sind Bank Financial Performance

The impressive surge in Punjab Sind Bank share price is attributed to the bank’s strategic capital raising measures, along with a robust financial performance in the third quarter of FY2024. During this period, the bank's net profit more than doubled to ₹282 crore, compared to ₹114 crore in the same quarter the previous year. Total income rose to ₹3,269 crore from ₹2,853 crore in the corresponding quarter last year, driven by a reduction in non-performing assets (NPAs) and increased lending activity.

The government’s stake in the bank, which stood at 98.25% at the end of December 2024, is expected to decline by 3-4% post-QIP. This capital raising is part of the bank’s larger plan to mop up ₹10,000 crore, including ₹5,000 crore through infrastructure bonds and ₹3,000 crore via Tier-1 and Tier-2 bonds.

Punjab & Sind Bank: Key Financial Metrics

Metric

Value

QIP Issue Price

₹38.37 per share

Floor Price

₹40.38 per share

QIP Amount Raised

₹2,000 crore

Intraday Share Price Surge

13%

Closing Share Price

₹48.18 per share

Market Capitalisation

₹32,269.04 crore

Q3 FY2024 Net Profit

₹282 crore

Q3 FY2024 Total Income

₹3,269 crore

Government Stake (Post-QIP)

~95%

The successful QIP closure and subsequent rally in Punjab Sind Bank share price demonstrate investor confidence in the bank’s long-term growth strategy. With a stronger capital base and improved profitability, the bank is well-positioned for sustainable growth in the upcoming fiscal years.

Also read: Bharat Forge Wins Record ₹4,140 Crore Defence Contract for ATAGS

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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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