Punjab & Sind Bank IPO likely next year

State-owned Punjab and Sind Bank (PSB) may come up with an initial public offering (IPO) sometime next year on the back of improved current year earnings and a planned capital restructuring that is awaiting Government nod, its Chairman and Managing Director, Mr R.P. Singh, said in a press release.

A capital restructuring proposal to convert a portion of the equity capital into perpetual preference shares is before the Finance Ministry. PSB had a paid-up capital of Rs 743.06 crore as on March 31, 2007.