Punjab National Bank opens QIP, fixes floor price as Rs. 37.35

Subsequent to the approval accorded by the Board of Directors of Punjab National Bank, at its meeting held on July 9, 2020 and approval of the shareholders of the Bank by way of a special resolution passed at the Annual General Meeting held on August 4, 2020 for the QIP, the Capital Raising Committee of the Bank has, at its meeting held today i.e. December 15, 2020, approved the opening of QIP today i.e. December 15, 2020.

The committee approved the floor price of Rs. 37.35 per Equity Share for the QIP. The Bank may, at its discretion offer a discount of not more than 5% on the Floor Price.

Shares of PUNJAB NATIONAL BANK was last trading in BSE at Rs.40.55 as compared to the previous close of Rs. 41.25. The total number of shares traded during the day was 4667833 in over 9703 trades.

The stock hit an intraday high of Rs. 41.5 and intraday low of 39.7. The net turnover during the day was Rs. 188373680.

Source : Equity Bulls

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