Punjab Nationwide Financial institution (PNB) raised ₹5,000 crore by way of Certified Establishment Placement (QIP) of about 48.19 crore fairness shares at a problem value of ₹103.75 a share, which was at a reduction of 4.96% to the ground value of ₹109.16 apiece.
PNB mentioned it acquired bids for about ₹41,734 crore for the QIP difficulty, which is 16.7 instances the bottom difficulty measurement of ₹2,500 crore and eight.3 instances the entire difficulty measurement of ₹5,000 crore, from certified institutional consumers together with mutual funds, overseas portfolio buyers and insurance coverage corporations.
“The quantity of capital raised by way of QIP difficulty will increase the financial institution’s CET-1 ratio and the general capital adequacy ratio,” PNB mentioned in an announcement.
The difficulty opened on September 23 and closed September 26. It acquired an ‘encouraging response’ with participation by a diversified investor base. Publish COVID all banks, particularly public sector lenders are mobilising capital to fulfill regulatory norms.
Shares of PNB closed at ₹109.25, up 1.82% on the BSE on Friday.
Revealed – September 27, 2024 09:33 pm IST
