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Punjab & Sind Bank gets Boards nod to raise fundS

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Mumbai | Wednesday, Feb 14 2018 IST
 
Public sector lender ,Punjab & Sind Bank has received an approval to raise equity capital of the Bank by issuance of equity shares aggregating to Rs 785 crore by way of preferentialallotment in favour of Government of India. The Board of Directors of the bank at its meeting held on February 13, 2018, resolved and approved the same.,bank said in filing with BSE.

The Board also gave approval to raise equity capital of the Bank amounting up to Rs 1215 crore through Public Issue (Follow on Public Offer) / Right Issue / Qualified Institutional Plieement(s) / Preferential Issue or any other mode or a combination(s) thereof in one or more tranches up to March 31, 2019.

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