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Punjab & Sind Bank's board to consider plan for raising up to Rs 5,500 cr

Shares of Punjab & Sind Bank on Wednesday closed 0.88 per cent up at Rs 11.40 apiece on the BSE

Punjab & Sind Bank | fund raising | Banks

Press Trust of India  |  New Delhi 


State-owned on Wednesday said the board of bank will meet later this week to consider raising up to Rs 5,500 crore by issuing shares on a preferential basis.

"A meeting of board of directors of is scheduled to be held on Saturday, November 21, 2020, for considering to offer, issue, create and allot equity shares up to Rs 5,500 crore (including preferential issue of equity shares)," the bank said in a regulatory filing.

Shares of on Wednesday closed 0.88 per cent up at Rs 11.40 apiece on the BSE.

(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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First Published: Wed, November 18 2020. 21:25 IST