Punjab National Bank to raise Rs 300 Crores through Bonds Issue

Punjab National Bank has announced that the Bank will be raising Rs 300 crore (i.e. Rs 250 crore with Green Shoe Option of Rs 50 crore) as "PNB Tier I Perpetual Bond Series III" through private placement.

The proposed date of opening will be January 16, 2008 and proposed date of closing will be January 17, 2008.

The stock closed the day at Rs.665.25, up by Rs.11.40 or 1.74%. The stock hit an intraday high of Rs.674.95 and low of Rs.654.

The total traded quantity was 75052 compared to 2 week average of 127432.

Source : Equity Bulls

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