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Punjab National Bank (PNB) said today that it has got shareholders' approval for raising Rs 5,000 crore either through Qualified Institutional Placement (QIP) or rights issue.
The extra-ordinary general meeting (EGM) of shareholders of the bank was held today, PNB said in a regulatory filing to the stock exchanges.
The shareholders approved raising of common equity Tier I capital of the bank by up to Rs 5,000 crore, including premium by way of follow-on public offer (FPO), QIP, rights issue or Employees Stock Option Plan or any other mode decided by the board, PNB said.