OFFER DOCUMENT
PUNJAB NATIONAL BANK
(Wholly owned by
Government of India)
Constituted under the Banking Companies (Acquisition and Transfer of
Undertakings) Act, 1970
Head Office: 7, Bhikhaiji Cama Place, New Delhi - 110 066
Telephone: (011) 6102303 / 6196487; Fax: (011) 6196462; Telegraphic Address:
SHREE
Email: ipo@pnbindia.com Website: www.pnbindia.com
Public Issue of 5,30,60,700 equity shares of Rs. 10 each for
cash at a premium of Rs. 21 per share
(at an issue price of Rs. 31 per share) aggregating Rs. 164.49 crores
Risks in relation to first Issue
This being the first issue of equity shares of Punjab
National Bank, there has been no formal market for the equity shares of Punjab
National Bank. The Issue Price (as has been determined and justified by the
Lead Managers and the Issuer as stated under “Basis of Issue Price” paragraph
on page no 45) should not be taken to be indicative of the market price of the
equity shares after the equity shares are listed. No assurance can be given
regarding an active or sustained trading in the equity shares of Punjab
National Bank nor regarding the price at which the equity shares will be traded
after listing.
General risks
Investments in equity and equity related securities involve a
degree of risk and investors should not invest any funds in this Issue unless
they can afford to take the risk of losing their investment. Investors are
advised to read the risk factors carefully before taking an investment decision
in this Issue. For taking an investment decision, investors must rely on their
own examination of the Issuer and the Issue including the risks involved. The
securities have not been recommended or approved by Securities and Exchange
Board of India (SEBI) nor does SEBI guarantee the accuracy or adequacy of this
document.
The attention of investors is drawn to the statement of Risk
Factors appearing on page no (i) of the Offer Document.
Issuer’s absolute responsibility
The Issuer, having made all reasonable inquiries, accepts
responsibility for, and confirms that this Offer Document contains all
information with regard to the Issuer and the Issue, which is material in the
context of the Issue, that the information contained in this Offer Document is
true and correct in all material respects and is not misleading in any material
respect, that the opinions and intentions expressed herein are honestly held
and that there are no other facts, the omission of which makes this document as
a whole or any of such information or the expression of any such opinions or
intentions misleading in any material respect.
Listing
The equity shares are proposed to be listed on The Delhi
Stock Exchange (“DSE”) or the “Regional Stock Exchange”, The Stock Exchange,
Mumbai (“BSE”) and the National Stock Exchange of India Ltd. (“NSE”). The
“in-principle” approval for listing from the DSE, BSE and NSE have been
received on February 26, 2002, February 27, 2002 and February 28, 2002
respectively.
|
LEAD
MANAGER TO THE ISSUE |
REGISTRAR
TO THE ISSUE |
|
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ICICI
Securities and Finance Company Limited |
MCS
Limited |
|
41/44, Minoo Desai Road |
Sri Padmavati Bhavan, Plot No. 93 |
|
Colaba, Mumbai – 400 005 Tel : 91 – 22 – 2882460 Fax: 91 – 22 – 2837045 E-mail: pnbipo@isecltd.com |
Road No.16, MIDC, Andheri (East) E-mail: mcsmum@vsnl.com |
ISSUE
OPENS ON : MARCH 21, 2002 ISSUE CLOSES ON : MARCH 28, 2002
TABLE
OF CONTENTS
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Risk
Factors and Management Perception Thereof |
i |
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Highlights |
x |
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Part I |
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I. |
General Information |
1 |