Punjab National Bank has successfully raised Rs 5,000 crore through a qualified institutional placement, allocating about 48.19 crore equity shares at Rs 103.75 per share. The issue saw significant interest from institutional buyers,

As per the disclosure made by the lender, Citigroup Global Markets Mauritius Pvt. has been allotted 21.8% of the overall QIP issue, BofA Securities Europe SA ODI was allotted 8.3%, SBI Contra Fund 7.9%, Morgan Stanley Asia (Singapore) Pte. 5.9%, and Goldman Sachs (Singapore) Pte. 5.8%.

'The bank received bids totalling Rs 41,734 crore for the QIP issue from Qualified Institutional Buyers (QIBs), which includes mutual funds, foreign portfolio investors (FPIs), insurance companies, etc., which is 16.7 times the base issue size of Rs 2,500 crore and 8.3 times the total issue size of Rs 5,000 crore,' the bank further added.

PSU lender P unjab National Bank on September 27 said it raised Rs 5,000 crore through Qualified Institutions Placement (QIP). In a stock exchange filing, the bank said it allotted 48.2 crore shares to Qualified Institutional Buyers at Rs 103.75 per share.

The QIP, which launched on September 23 and closed on September 26, received an overwhelming response from the market. Shares of Punjab National Bank ended at ₹109.25, up by ₹1.95, or 1.82%, on the BSE.

The bank had taken board approval last year for raising up to Rs 7,500 crore via share sale in one or more tranches during 2024-25.