Punjab and Sind Bank plans to raise Rs 2,000 cr via QIP likely in H2 FY25

Quick Summary:

State-owned Punjab & Sind Bank plans to raise Rs 2,000 crore in the second half of this fiscal via Qualified Institutional Placement (QIP) to fund business growth.

"The board has already given approval, and merchant bankers should be on-boarded by August," Punjab & Sind Bank managing director and CEO Swarup Kumar Saha told PTI.

The government of India holds a 98.25 per cent stake in Punjab & Sind Bank.

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Article Details

Category: BusinessFinance

Markets: India

Topics: QIP Market conditions Fund raising Fundraising

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-30 @ 14:59:42 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 416 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21422580

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