OPEN APP
Home >Industry >Banking >Sebi exempts Centre from making open offer for PNB
In September, the government had proposed an infusion of capital to the tune of Rs 5,431 crore in PNB through preferential allotment. Photo: Pradeep Gaur/Mint
In September, the government had proposed an infusion of capital to the tune of Rs 5,431 crore in PNB through preferential allotment. Photo: Pradeep Gaur/Mint

Sebi exempts Centre from making open offer for PNB

PNB had filed an application dated 1 October and later a revised application on 24 October on behalf of the government seeking such an exemption

Mumbai: The Securities and Exchange Board of India (Sebi) said on Tuesday it had granted an exemption to the government from making an open offer for Punjab National Bank (PNB).

The regulator said the state-run bank had filed an application dated 1 October and later a revised application on 24 October on behalf of the government seeking such an exemption.

In September, the government had proposed an infusion of capital to the tune of 5,431 crore in PNB through preferential allotment. Subsequently, PNB approved such allotment and decided to issue 63,81,90,364 equity shares to the government at an issue price of 85.10 per share.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
My Reads Redeem a Gift Card Logout