Punjab & Sind Bank To Raise Up To Rs 5,500 Crore Via Preferential Issue

Bloomberg Quint | Nov 21, 2020 at 8:34 PM
  • The board of Punjab & Sind Bank has approved a proposal to raise up to Rs 5,500 crore by issuing shares on a preferential basis.
  • The approval is in line with the government sanction to infuse an amount of Rs 5,500 crore in the state-run bank towards contribution of the centre in preferential allotment of equity shares during 2020-21.
  • On Friday, shares of Punjab & Sind Bank rose 1.25% to Rs 11.38 apiece on the BSE even the benchmark Sensex ended the day 0.65% higher at 43,882.25 points.