PNB fixes QIP price as Rs. 33.75

The Capital Raising Committee of the Board of Directors of Punjab National Bank has at its meeting held today i.e. May 14, 2021, has declared the closure of the QIP today (i.e. May 14, 2021) pursuant to the receipt of applications from eligible Qualified Institutional Buyers in accordance with the terms of the QIP.

The committee also approved the Issue Price of Rs. 33.75 per Equity Share (including a premium of Rs. 31.75 per Equity Share), which includes a discount of 4.96% (i.e. Rs. 1.76 per Equity Share) to the Floor Price of Rs. 35.51 per Equity Share, for the equity shares to be allotted to eligible Qualified Institutional Buyers in the QIP.

Shares of PUNJAB NATIONAL BANK was last trading in BSE at Rs.36.85 as compared to the previous close of Rs. 37.1. The total number of shares traded during the day was 12790670 in over 29209 trades.

The stock hit an intraday high of Rs. 38.4 and intraday low of 36.5. The net turnover during the day was Rs. 478907662.

Source : Equity Bulls

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