PNB board to consider debt raising plan for FY23 on Mar 29

Public sector Punjab National Bank will convene a board meeting later this month to decide on its capital raising plan through debt for the next fiscal year.

"The meeting of the board of directors of the company is scheduled on 29 March 2022, to consider and approve the proposal for raising of capital through the issuance of Basel-III compliant additional tier-1 bonds and/or tier-2 bonds or a combination thereof, in one or more tranches for FY2022-23," PNB said in a regulatory filing on Monday.

However, the bank has not provided details on how much capital it is planning to raise via debt in 2022-23.

The shares of PNB closed at Rs 35.70 apiece on BSE, down by 0.83 per cent from the previous close.