State-owned Punjab National Bank (PNB) on Thursday said it board has approved raising Rs 5,000 crore through public offer.

The decision in this regard was taken in the board meeting held Thursday, PNB said in a regulatory filing.

The board has granted approval for raising equity capital amounting up to Rs 5,000 crore in one or more tranches through Qualified Institutional Placements (QIP) or Follow-on Public Offer (FPO) or Rights Issue, it said.