Punjab National Bank to raise Rs 500 cr through bonds

Public sector lender Punjab National Bank today said it would raise Rs 500 crore through the issue of bonds to meet its business growth and capital requirements.

"The bank will be raising Rs 500 crore through PNB Tier I perpetual bonds," the state-run bank said in a filing to the Bombay Stock Exchange (BSE).

The issue of bonds opens today and will close on August 28, it further said.

Shares of Punjab National Bank were trading at Rs 672, down 1.40 per cent in the afternoon trade on the BSE.