Government of India to infuse Rs. 870 crore of Capital in Punjab National Bank

Consequent upon the decision of the Government of India (GoI) to infuse capital funds to the tune of Rs. 870 crore in Punjab National Bank during 2014-15, up to 4,42,07,317 equity shares of face value of Rs. 2/- each at a premium of Rs. 194.80 i.e. at a price of Rs. 196.80 per equity share on preferential basis in accordance with Regulation 76(1) of SEBI ICDR Regulations shall be issued subject to regulatory approvals including approval of shareholders in the EGM to be held on March 19, 2015.

The Issue price has been determined in accordance with Regulation 76(1) of SEBI ICDR Regulations. The relevant date for ascertaining the issue price is February 16, 2015.

Shares of PUNJAB NATIONAL BANK was last trading in BSE at Rs.166.85 as compared to the previous close of Rs. 167.7. The total number of shares traded during the day was 702436 in over 13015 trades.

The stock hit an intraday high of Rs. 170.3 and intraday low of 166.35. The net turnover during the day was Rs. 117924533.

Source : Equity Bulls

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