PNB fixes floor price for QIP as Rs. 35.51 per share

In terms of the approval accorded by the Board of Directors of Punjab National Bank (PNB), 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 Board of the Bank has, at its meeting held today i.e. May 10, 2021, has approved and adopted the Preliminary Placement Document dated May 10, 2021 (the "Preliminary Placement Document") and the application form dated May 10, 2021 in connection with the QIP.

The committee authorized the opening of the Issue today i.e. May 10, 2021 and approved the Floor Price of Rs.35.51 per Equity Share for the QIP as per SEBI ICDR Regulations.

The Issue Price will be determined by the Bank in consultation with the Book Running Lead Managers appointed for the QIP Issue.

Shares of PUNJAB NATIONAL BANK was last trading in BSE at Rs.35.6 as compared to the previous close of Rs. 36.2. The total number of shares traded during the day was 6347319 in over 11045 trades.

The stock hit an intraday high of Rs. 36.8 and intraday low of 35. The net turnover during the day was Rs. 227376154.

Source : Equity Bulls

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