PNB to list new shares on Tuesday

Punjab National Bank (PNB) is planning to list the additional eight crore shares allotted recently to investors on March 29.

"We will be listing the additional shares on both the BSE and the NSE on March 29," a senior PNB official said today.

The basis of allotment has been decided, the official said without disclosing details.

The bank had earlier fixed the cut-off price at its maximum limit of Rs 390 per share.

The public offer received bids for 125.05 crore shares as against the offer for eight crore shares.

The bank got bids worth over Rs 48,000 crore out of which it would retain Rs 3,120 crore at Rs 390 per share.