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Punjab & Sind Bank to raise Rs.1,000 cr through preference shares

The board has approved raising of the capital through preferential issue at a rate which will be decided later
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First Published: Tue, Jan 01 2013. 07 40 PM IST
A Punjab & Sind Bank branch in New Delhi. Photo: Mint
A Punjab & Sind Bank branch in New Delhi. Photo: Mint
New Delhi: State-owned Punjab & Sind Bank on Tuesday said it will raise about Rs.1,000 crore by issue of preference shares. The board has approved raising of capital through preferential issue of equity shares up to Rs.1,000 crore at a rate to be decided later, Punjab & Sind Bank said in a filing on the BSE.
Shares of the bank closed at Rs.80.10 a piece, up 11.40% on the BSE.
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First Published: Tue, Jan 01 2013. 07 40 PM IST
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