Business Standard

PNB gets board approval to raise Rs 7,500 crore through QIP or FPO

The fundraising exercise will be done in one or more tranches during the next financial year, the state-owned bank said in a late-evening regulatory filing

Punjab National bank, PNB

Press Trust of India New Delhi

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Punjab National Bank on Thursday said its board has approved a proposal to raise Rs 7,500 crore capital through QIP or FPO.

The fundraising exercise will be done in one or more tranches during the next financial year, the state-owned bank said in a late-evening regulatory filing.

The board of directors, during a meeting on Thursday, approved the proposal for raising equity capital for an amount aggregating up to Rs 7,500 crore in one or more tranches during 2024-25 through Qualified Institutional Placement (QIP) or Follow-on Public Offering (FPO) or any other permitted mode or a combination, it said.

 

 

(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: Dec 29 2023 | 6:42 AM IST

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