Punjab National Bank (PNB) has initiated the process of raising up to Rs 5,000 crore through Qualified Institutional Placement (QIP). The committee of directors for capital mop-up at a meeting approved opening of the QIP. The bank has approved the floor price of Rs 176.35 per share of face value Rs 2.
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.
