The shareholders of the bank at their extra ordinary general meeting (EGM) held on December 4, 2017 approved the raising of common equity tier-I capital of the bank in aggregating not exceeding Rs 5,000 crore including premium by way of FPO (Follow on Public Offer)/ QIP (Qualified Institutional Placement) /Rights Issue/ ESOP (Employees Stock Option Plan) and/ or any other mode or combination(s) thereof, as may be decided by the Board.
PNB said it intends to use the net proceeds of the Issue to augment its CET I capital and for general corporate purposes.
At 11:59 AM; the stock was the largest gainer among Nifty PSU Bank index, which down 0.11% at 3,805 points. The Nifty 50 index was down 0.43% at 10,278 points.
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