PNB says board will consider a proposal to raise capital on July 9

State-owned Punjab National Bank (PNB) on Monday said its board will consider a proposal to raise capital through a mix of both equity and debt on July 9.

Besides, the board will clear opening balance sheet of the amalgamated bank as on April 1, which is post amalgamation of Oriental Bank of Commerce and United Bank of India into PNB, the bank said in a regulatory filing.

The board will consider proposal for raising capital through issue of Basel-III-compliant tier-1 bonds, tier-2 bonds and equity shares by way of private placement, qualified institutions placement, follow-on public offering, rights issue or any other