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PNB Board Approves Fund Raising of Rs 7,500 Crore Via Share Sale In FY'25

The board gave nod for raising of equity capital for an amount aggregating up to Rs 7,500 crore in one or more tranches during FY2024-25 through Qualified Institutions Placement /Follow-on Public Offer or any other permitted mode or a combination, PNB said in a regulatory filing.

PTI

File photo (Source: Punjab National Bank/Facebook)

State-owned Punjab National Bank on Monday said the board of the bank has given green signal for raising Rs 7,500 crore through Qualified Institutions Placement /Follow-on Public Offer during 2024-25.

The decision in this respect was taken in a meeting held on Jan. 29.

The board gave nod for raising of equity capital for an amount aggregating up to Rs 7,500 crore in one or more tranches during FY2024-25 through Qualified Institutions Placement /Follow-on Public Offer or any other permitted mode or a combination, PNB said in a regulatory filing.

The fund raising should be done in such a manner that the shareholding of the Government of India does not fall below 52%, it added.

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GST 2.0: Tata Motors Expects Customers To Save Up To Rs 1.45 Lakh On New Cars

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