Punjab National Bank’s (PNB) Board has decided to issue and allot 29,76,19,047 equity Shares at a price of Rs 168 per Equity Share (including a premium of Rs 166 per Equity Share), aggregating to Rs 5,000 crore to successful eligible qualified institutional buyers (QIB).
Pursuant to the allotment of Equity Shares in the Issue, the paid up Equity Share capital of the Bank stands increased to Rs 485,11,74,610 comprising 242,55,87,305 Equity Shares. The Capital Raising Committee of the Board of Directors of the Bank at its meeting held on December 18, 2017 has allotted the same.
PNB 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.
