PNB gets Rs 2,816 cr as part of govt’s capital infusion plan

The preferential allotment of equity shares to the government will be made after completing the process of regulatory approvals, Punjab National Bank said.

State-owned PNB today said it has received Rs 2,816 crore as capital infusion from the government via preferential allotment of equity shares. “The bank, as per Department of Financial Services notification, has received the amount of capital infusion of Rs 2,816 crore towards the contribution of the central government,” PNB said in a regulatory filing.

The preferential allotment of equity shares to the government will be made after completing the process of regulatory approvals, Punjab National Bank said.

Allahabad Bank had informed last week that it received Rs 1,790 crore as capital infusion from the government.

As per the plan, PSBs were to get Rs 1.35 lakh crore through re-capitalization bonds, and the balance Rs 58,000 crore through raising of capital from the market.

Of the Rs 1.35 lakh crore, the government has already infused about Rs 71,000 crore through recap bonds and the balance would be done during the current fiscal, 2018-19.

PNB stock closed 4.57 percent up at Rs 78.95 on BSE.