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PNB to raise Rs 700 cr via bonds issue

Public sector lender Punjab National Bank (PNB) today said it will raise Rs 700 crore by issues of bonds. - Govt kicks off talks on bank consolidation - Bajaj Hind EGM on Dec 16 for raising Rs 2,000 cr - Kumar Urban Dev to raise Rs 450 cr through IPO - Norwest Venture Partners raises $1.2 bn for PE fund - Hindalco gets shareholders nod for raising Rs 2,900 cr - Robust show The bank would raise Rs 500 crore by issue of upper tier II bonds, PNB said in a filing to the Bombay Stock Exchange (BSE). Further, the bank would also raise a sum of Rs 200 crore through issue of tier I perpetual bonds, the filing said. The issue would open on November 24 and close on November 25, 2009. Shares of PNB closed at Rs 917.30 on BSE, up 1.97 per cent from its previous close.

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