PNB to raise Rs 3,200 crore from share deal this quarter 


The bank has raised Rs 3,788.04 crore from qualified institutional arrangement (QIP) in December following which the public authority holding in the bank descended from 85.59 percent to 76.87 percent. Punjab national Bank on Saturday said it intends to raise Rs 3,200 crore from share deal during the current quarter to improve its capital base. 
The bank has raised Rs 3,788.04 crore from qualified institutional situation (QIP) in December following which the public authority holding in the bank descended from 85.59 percent to 76.87 percent. 
The bank had taken endorsement for raising Rs 14,000 crore through a blend of value and obligation. According to the arrangement, the bank chose to raise Rs 3,000 crore from AT-1 bonds, Rs 4,000 crore from Tier II bonds and Rs 7,000 crore from QIP. 
"We have just taken Rs 4,000 crore from Tier-II and Rs 3,788 crore we have taken through QIP as toward the finish of December. In the long stretch of January we have likewise taken AT-1 of another Rs 500 crore. So I am exceptionally sure that excess Rs 2,500 crore of under Additional Tier-1 securities will be collected from the market before March 31," PNB Managing Director S Mallikarjuna Rao said. 
Conversing with the media after outcome, he said, "We are additionally effectively taking a gander at going for the QIP again as for the excess Rs 3,200 crore to be procured from the market at a proper time… it very well may be in this monetary too." 
In any case, he said, current degree of capital ampleness proportion is adequate to deal with not just the prerequisite in the long stretch of March 2021 yet additionally during the following monetary year. 
In addition, Rao said, the bank has sold a portion of the non-center resources remembering offer of its holding for UTI Mutual Fund. 
Going advances, he said, the bank hopes to assemble Rs 500 crore from offer of genuine resources by June 2021.


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