 "PNB board approves fund raising of Rs 7,500 cr via share sale in FY25")
State-owned Punjab National Bank (PNB) on Monday said the board of the bank has given green signal for raising Rs 7,500 crore through Qualified Institutions Placement (QIP)/Follow-on Public Offer (FPO) during 2024-25.
The decision in this respect was taken in a meeting held on January 29.
The board gave nod for raising of equity capital for an amount aggregating up to Rs 7,500 crore in one or more tranches during FY2024-25 through Qualified Institutions Placement (QIP)/Follow-on Public Offer (FPO) or any other permitted mode or a combination, PNB said in a regulatory filing.
The fund raising should be done in such a manner that the shareholding of the Government of India does not fall below 52 per cent, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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