PNB returns Rs 1,153cr to government

Punjab National Bank (PNB) today returned three crore equity shares of Rs 10/- each to the government of India.

According to a release issued by the bank to the BSE today, the bank paid Rs 1,153.01 crore on account of return of capital including premium less proportionate issue expenses.

"With the return of three crore equity shares, the total paid-up capital of the bank stands reduced from Rs 345,30,25,000 to Rs 315,30,25,000, and the government holding has reduced from Rs 212,24,13,000 to Rs 182,24,13,000," the release said.

The government holding in the bank has declined to 57.8% after the return of capital, the release added.