Business Standard

PNB raises Rs 1,590 cr via preference issue to LIC

Related News

State-owned (PNB) has raised Rs 1,589.90 crore by issuing shares to Life Insurance Corporation (LIC) on preferential basis.

On receipt of allotment money of Rs 1,589.90 crore from LIC, the bank has allotted 15.8 million (1,58,40,607) shares of the face value of Rs 10 each at a premium of Rs 993.69 to the insurer on preferential basis, the bank said in a filing to the Bombay Stock Exchange (BSE).

is in the process of issuing up to 12.8 million shares to the government, which holds 58% in the bank.

Last year, PNB got a capital infusion of Rs 184 crore from the government.

In 2010-11, the government provided capital support to the tune of Rs 20,157 crore to public sector banks.

Read more on:   
|
|
|

Read More

LIC pumps in Rs 2,317 cr in four PSU banks

The state-owned Life Insurance Corporation (LIC) has pumped in Rs 2,137 crore in four public sector banks through the preference share route.

Quick Links

More news from Finance Rss icon

MHA bats for SMSes on bank transactions, ATM slips in Hindi

Home Ministry's official language department said so far there is no facility for working in Hindi language on Internet banking websites

Bank unions to intensify strike on wage settlement

The United Forum of Bank Unions would be holding a one-day all-India strike on January 7 followed by a four-day strike from January 21-24

ITZCash says open for partnership for payment bank

I always have been advocating that if you bring partner with unique strengths, your probability of success increases, says company's MD

Back to Top