PNB allots 106,70,52,910 Equity Shares to QIBs at Rs. 35.50

The Capital Raising Committee of Board of Punjab National Bank (PNB) has in its meeting held today i.e. December 21, 2020, approved the allotment of 106,70,52,910 Equity Shares to eligible Qualified Institutional Buyers at an Issue Price of Rs. 35.50 per Equity Share, aggregating to Rs. 3,788,03,78,305.00 [Rupees Three Thousand Seven Hundred Eighty Eight Crore Three Lakhs Seventy Eight Thousand Three Hundred and Five only] in accordance with the provisions of the SEBI ICDR Regulations.

The QIP Issue opened on December 15, 2020 and closed on December 18, 2020 respectively.

Pursuant to the allotment of equity shares in the QIP, the Paid - Up Equity Share capital of the Bank stands increased from Rs. 1882.13 Crore comprising of 941,06,29,315 Equity Shares to Rs. 2095.54 Crore comprising of 1047,76,82,225 Equity Shares.

Shares of PUNJAB NATIONAL BANK was last trading in BSE at Rs.36.55 as compared to the previous close of Rs. 37. The total number of shares traded during the day was 6479669 in over 14475 trades.

The stock hit an intraday high of Rs. 37.2 and intraday low of 35.7. The net turnover during the day was Rs. 235089480.

Source : Equity Bulls

Keywords