In a bid to fund business growth, Punjab National Bank (PNB) is seeking shareholders’ approval to raise equity capital of up to Rs 3,000 crore. In this regard, the public sector lender has convened an extraordinary general meeting (EGM) on September 12. The Centre currently holds 65.01 per cent stake in PNB.
Moreover, shareholders’ nod is also being sought to empower the board to undertake qualified institutional placement (QIP) with qualified institutional buyers.
Punjab National Bank is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.
