PNB rises on getting nod to raise Rs 12000 crore via bonds
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Punjab National Bank is currently trading at Rs. 35.35, up by 0.40 points or 1.14% from its previous closing of Rs. 34.95 on the BSE.
The scrip opened at Rs. 35.30 and has touched a high and low of Rs. 35.45 and Rs. 35.25 respectively. So far 250166 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 47.60 on 26-Oct-2021 and a 52 week low of Rs. 31.50 on 19-Apr-2021.
Last one week high and low of the scrip stood at Rs. 36.00 and Rs. 34.80 respectively. The current market cap of the company is Rs. 38483.50 crore.
The promoters holding in the company stood at 73.15%, while Institutions and Non-Institutions held 12.80% and 14.05% respectively.
Punjab National Bank (PNB) has received approval for raising of capital for an amount up to Rs 12000 crore through issue of Basel III compliant AT-1 Bonds up to Rs 5500 crore and Tier II Bonds up to Rs 6500 crore, to be raised in one or more tranches. The board of directors at their meeting held on March 29, 2022 has approved 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.
