Moneycontrol
Get App
you are here: HomeNewsBusiness
Last Updated : Mar 15, 2019 09:17 PM IST | Source: PTI

Punjab & Sind Bank to raise equity capital of Rs 500 cr via QIP

The decision was taken at the extraordinary general meeting of shareholders held here.

Representative image
Representative image
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

State-owned Punjab & Sind Bank on Friday said it would raise up to Rs 500 crore by issuing fresh equity shares through qualified institutional placement.

The decision was taken at the extraordinary general meeting of shareholders held here.

The money will be raised in one or more tranches, it said in a regulatory filing. Among others, the bank said it would issue up to 5 crore shares to its employees under the Employee Share Purchase Scheme (ESPS).

Close

Such shares under ESPS will be created and allotted in one or more tranches, it added.

Stock of Punjab & Sind Bank closed 0.33 per cent down at Rs 30.15 on the BSE.

Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.
First Published on Mar 15, 2019 09:15 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant