INSUBCONTINENT EXCLUSIVE:
PNB, Punjab National Bank (Photo: Shutterstock)1 min read Last Updated : Sep 23 2024 | 9:00 PM IST
State-owned Punjab National Bank (PNB)
on Monday fixed a floor price of Rs 109.16 per share for its share sale through qualified institutional placement (QIP).
The bank had
taken board approval last year for raising up to Rs 7,500 crore via share sale in one or more tranches during 2024-25.
The board approved
and adopted the preliminary placement document together with the application form in connection with the issue, PNB said in a regulatory
filing.
It also approved the floor price Rs 109.16 per share based on the pricing formula as prescribed under Regulation 176 of the Sebi
said.
The issue price will be determined by the bank in consultation with the book running lead managers appointed in relation to the
issue, it added.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content
is auto-generated from a syndicated feed.)First Published: Sep 23 2024 | 9:00 PMIST
