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PNB gets shareholders' nod for raising Rs 5,000 cr from market

The bank has already appointed merchant bankers for the QIP and is expected to hit the market in the next few days

Press Trust of India  |  New Delhi 

Punjab National Bank, PNB

(PNB) said today that it has got shareholders' approval for raising Rs 5,000 crore either through Qualified Institutional Placement (QIP) or

The extra-ordinary general meeting (EGM) of shareholders of the was held today, said in a regulatory filing to the stock exchanges.

The shareholders approved raising of common equity Tier I capital of the by up to Rs 5,000 crore, including premium by way of follow-on public offer (FPO), QIP, or Employees Stock Option Plan or any other mode decided by the board, said.

The bank has already appointed merchant bankers for the and is expected to hit the in the next few days.

First Published: Mon, December 04 2017. 19:29 IST
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