"Through the extensive network of Ola cabs present across the state, we are able to bring these mobile ATMs closer to citizens, saving them from the hassles of cash withdrawals," said Deep Singh, Business Head, North, Ola, in a statement.

Since October 25, post Q2FY17 results, the stock zoomed 71% from Rs 30 as compared to 7.8% decline in S&P BSE Sensex.

"We will be calibrating our 10,000 ATMs to meet the requirements to disburse Rs 500 and Rs 2000 notes. There will be no additional expense to calibrate the ATMs as it will be done by our staff members", Sanjiv Sharan, Executive Director, Punjab National Bank.

The stock opened at 860 rupees on the National Stock Exchange, and rose to a high of 900 rupees as of 0434 GMT, compared with the IPO issue price of 775 rupees.

The bank had reported a net profit at Rs 621.03 crore during the July-September quarter last financial year.

The Rs 3,000-crore IPO was oversubscribed 29.55 times during October 25-27.

The board will be considering issuance of Basel III compliant debt instruments — Perpetual Additional Tier I capital bonds worth Rs3,000 crore and Tier-II bonds of up to Rs3,000 crore, PNB said in a regulatory filing to stock exchanges.

Indian companies have raised $2.9 billion through IPOs in the first nine months of this year, a 171 per cent jump from a year earlier and the best run since 2010, according to data compiled by Thomson Reuters.

The leading housing finance firm filed IPO papers with Sebi in July. The markets regulator issued its final 'observations' on October 6 on the draft offer documents, which is necessary for any company to launch the public offer.

SBI is holding a mega e-auction where it would sell a record 1,107 properties online on September 7. The properties carry a reserve price of Rs 2,500 crore.