Punjab National Bank on Friday raised Rs 5,000 crore via the qualified institutional placement (QIP) route. The Capital Raising Committee of the state-run lender on Friday allotted over 48.19 crore equity shares to qualified institutional buyers (QIBs) at an issue price of Rs 103.75 apiece.
The QIP issue opened on September 23, 2024, and closed on September 26. Morgan Stanley and Goldman Sachs were among buyers.
Among the allottees were Citi Group Global Markets Mauritius Private Limited- ODI. It was allotted 21.89% of the total issue. The others were BofA Securities Europe SA- ODI, SBI Contra Fund, Morgan Stanley Asia (Singapore) Pte. – ODI and Goldman Sachs (Singapore) Pte- ODI. They were allotted 8.30%, 7.89%, 5.88% and 5.85%, respectively.
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Content Source: economictimes.indiatimes.com