PNB raises INR 5,000 crore via QIP

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Punjab National Bank has raised INR 5,000 crore through qualified institutional placement by selling 29.76 crore shares at Rs 168 per share, which is at a discount of 4.735 percent to the floor price of Rs 176.35.

The Committee of Directors for Capital Raising of the bank decided to close the issue and accorded its consent for the issue of shares to investors, bank said.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.