Punjab National Bank (PNB) is planning to hold roadshow for the proposed Rs 7,000 crore qualified institutional placement (QIP) issue. The bank will be participating again in the non-deal roadshow and meeting prospective investors on December 7-8, 2020. The bank has taken approval for raising Rs 7,000 crore through the Qualified Institutional Placement route this fiscal. In a non-deal roadshow, nothing is for sale.
The bank has already taken approval from the board for raising Rs 14,000 crore by way of Tier II, Additional Tier 1 (AT-1) bonds, and QIP. Of this, Rs 4,000 crore is for Tier II. Against this, the company raised Rs 2,500 crore, and the remaining Rs 1,500 crore and an additional Rs 3,000 crore from AT-1 bonds will be raised before November 30. With respect to the QIP of Rs 7,000 crore.
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.
