State-owned Punjab & Sind Bank on Wednesday raised ₹3,000 crore through 10-year infrastructure bonds at a coupon rate of 7.74 per cent, said sources aware of the development. The infrastructure bond issue had a base size of ₹500 crore and a green shoe option of ₹2,500 crore. It was rated "AA" by domestic rating agency CRISIL and India Ratings.
"Bank received total bids amounting to ₹6,031 crore in an overwhelming response from investors and the issue was oversubscribed by 12.06 times against the base issue size of ₹500 crore," the bank said in a statement.
This story is from the December 19, 2024 edition of Business Standard.
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This story is from the December 19, 2024 edition of Business Standard.
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