New Delhi: State-owned Punjab National Bank on Saturday said it has raised Rs 1,800 crore by selling 53 crore shares on a private placement basis to investors like LIC and Societe Generale.
Eligible Qualified Institutional Buyers (QIBs) were given the share at an issue price of Rs 33.75 per unit aggregating to Rs 1,799.99 crore, PNB said in a regulatory filing.
The qualified institutional placement (QIP) closed on Friday with the bank fixing issue price at a 5 per cent discount to the floor price of Rs 35.51 per unit.
”Pursuant to the allotment of equity shares in the QIP, the Paid-Up Equity Share capital of the Bank stands increased from Rs 2,095.54 crore comprising of 10,47,76,82,225 Equity Shares to Rs 2,202.20 Crore comprising of 11,01,10,15,558 Equity Shares,” it said.
Sharing details of some of the large investors of the QIP, the bank said, Societe Generale of France picked up 23.22 per cent (12.3 crore shares) of the total share offering, followed by LIC which bought 22.2 per cent (11.8 crore shares), and another French firm BNP Paribas garnered 13.3 per cent (7.1 crore shares).