AgenciesKolkata: Punjab National Bank and IDBI Bank have offered about 5% discount to investors over the floor price of their qualified institutional placements after receiving a lukewarm response.
PNB managed to raise Rs 3788 crore against the targeted Rs 7000 crore. IDBI Bank did not say how much it raised but it was much below the target of Rs 2000 crore.
PNB raised the capital at Rs 35.50 per equity share over face value of Rs 2 per share, against the floor price of Rs 37.35, the bank said in a regulatory filing to stock exchanges.
IDBI Bank sold the shares at 38.60 per equity share, including a premium of 28.60, which is at a discount of about 5% to the floor price of 40.63, it said in a separate filing.
PNB managed to raise Rs 3788 crore against the targeted Rs 7000 crore. IDBI Bank did not say how much it raised but it was much below the target of Rs 2000 crore.
PNB raised the capital at Rs 35.50 per equity share over face value of Rs 2 per share, against the floor price of Rs 37.35, the bank said in a regulatory filing to stock exchanges.
IDBI Bank sold the shares at 38.60 per equity share, including a premium of 28.60, which is at a discount of about 5% to the floor price of 40.63, it said in a separate filing.
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1 Comment on this Story
 | Ravi kumar2 hours ago PNB management needs to tighten it's grip on the company processes. Such lukewarm response doesn't bode well for the public lender. Stock is so cheap right now but still no takers. It doesn't instill confidence. Government should do something about it. |
