Punjab National Bank approves fund raising of upto Rs. 7500 crores

The Board of Directors of Punjab National Bank in its meeting held today, has approved the proposal for raising of equity capital for an amount aggregating upto Rs. 7500 Crore in one or more tranches during FY 2024-25 through Qualified Institutions Placement (QIP) / Follow on Public Offer (FPO) or any other permitted mode or a combination thereof, in accordance with the provisions of the applicable Acts / Regulations / Guidelines and subject to receipt of requisite approvals.

Shares of Punjab National Bank was last trading in BSE at Rs. 95.63 as compared to the previous close of Rs. 91.77. The total number of shares traded during the day was 12894988 in over 24226 trades.

The stock hit an intraday high of Rs. 97.70 and intraday low of 92.70. The net turnover during the day was Rs. 1227065018.00.

Source : Equity Bulls

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PunjabNationalBank INE160A01022 PNB FundRaising