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Last Updated : Dec 04, 2019 02:24 PM IST | Source: PTI

Punjab & Sind Bank seeks to mop up Rs 500cr via QIP

The bank's board will meet on December 6 to consider and approve the fundraising, according to a BSE filing on Tuesday.

 
 
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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.

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The bank's stock was trading at Rs 20.15, up 0.50 per cent from the previous close, on the BSE.

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First Published on Dec 4, 2019 02:15 pm
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