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PNB gets shareholders' nod for raising Rs 5,000 crore

05 Dec 2017 Evaluate

Punjab National Bank (PNB) has received an approval from its shareholders for raising Rs 5,000 crore either through Qualified Institutional Placement (QIP) or Rights Issue. The shareholders approved raising of common equity Tier I capital of the Bank by up to Rs 5,000 crore, including premium by way of follow-on public offer (FPO), QIP, rights issue or Employees Stock Option Plan or any other mode decided by the board.

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.

Peers
Company Name CMP
State Bank Of India 937.60
PNB 115.65
Bank Of Baroda 234.35
Canara Bank 117.40
Union Bank Of India 171.80
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