Punjab National Bank (PNB), the country's second largest public sector lender, may raise up to Rs 300 crore from bonds issue that will open tomorrow for private placement.
While the PNB Tier I perpetual bonds would be worth Rs 150 crore, the bank would also be keeping an option to get an over-subscription of Rs 150 crore.
"Bank will be raising Rs 150 crore plus green shoe option of Rs 150 crore as PNB Tier I perpetual bonds through private placement," the bank informed the Bombay Stock Exchange in a filing.
The proposed date of opening is tomorrow and closing is January 14, the Delhi-based bank said.
PNB shares were trading at Rs 530.90 on the BSE, down 0.87 per cent over yesterday's close.