Punjab National Bank QIP: PSU bank mulls fund raise! Check floor price, other details
Ahead of the launch of QIP, shares of Punjab National Bank surged 2.81 per cent to close at Rs 111.50 per share on BSE. The scrip opened at Rs 108.46 per share, making a high of Rs 111.90 and a low of Rs 108.
Punjab National Bank Sets Floor Price for Institutional Share Sale
State-owned Punjab National Bank (PNB) has set a floor price of Rs 109.16 per share for its qualified institutional placement (QIP). The bank plans to raise up to Rs 7,500 crore through the share sale during 2024-25.
Punjab National Bank (PNB) fixes floor price for share sale
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.
PNB launches QIP today, fixes floor price of Rs 109.16 per share
PSU lender Punjab National Bank Ltd announced floor price of Rs 109.16 per share for the Qualified Institutions Placement that was launched on September 23. This represents 2 percent discount from the closing market price of PNB shares at Rs 111.49 apiece as of September 23.
Punjab National Bank share are down by -1.81%, Nifty up by 0.09%
On the last trading day, PNB opened at ₹110.65 and closed at ₹108.80. The stock reached a high of ₹110.90 and a low of ₹108.75 during the day.
Punjab National Bank announces QIP at ₹109.16 apiece floor price: Check details
The floor price for the equity shares has been set at ₹109.16, the country's second-largest PSU bank said in a statement on Monday.
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