Money & Banking

PNB gets capital infusion of Rs 184 crore from Centre

| | Updated on: Mar 29, 2011

Punjab National Bank (PNB) has allotted 15.10 lakh shares to the Centre on a preferential basis at an issue price of Rs 1,218.82 per share of Rs 10 each. This would lead to a capital infusion of Rs 184 crore into the bank, taking the Centre's stake in the bank to 58 per cent.

Prior to this capital infusion, the Centre's stake in PNB was 57.80 per cent. The preferential allotment of equity shares to the Centre was approved by shareholders of the bank at an extraordinary general meeting (EGM) held in the capital on Monday.

On Tuesday, the share price of PNB closed at Rs 1,170 per share on the National Stock Exchange..

Published on March 29, 2011

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