The bank's board will meet on December 6 to consider and approve the fundraising, according to a BSE filing on Tuesday.
PTI
@moneycontrolcom
State-owned Punjab and Sind Bank (PSB) seeks to raise up to Rs 500 crore through qualified institutional placement (QIP) route.
The bank's board will meet on December 6 to consider and approve the fundraising, according to a BSE filing on Tuesday.
"A meeting of Board of Directors of Punjab & Sind Bank is scheduled for December 6, 2019 at New Delhi...to revalidate the approval for a further period of 12 months to issue of equity shares by way of QIP up to an amount of Rs 500 crore," the filing said.
The bank's stock was trading at Rs 20.15, up 0.50 per cent from the previous close, on the BSE.LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.
First Published on Dec 4, 2019 02:15 pm
