PNB to raise up to Rs 11,000 crore via various securities

The Board of Directors accorded approval for raising common equity tier capital up to Rs 5,000 crore as per Basel III requirements.

New Delhi: Public sector lender Punjab National Bank (PNB) on Wednesday said its board has approved raising up to Rs 11,000 crore through various securities.

The Board of Directors today accorded approval for raising common equity tier capital up to Rs 5,000 crore as per Basel III requirements, the bank said in a BSE filing.

It further said the board has granted approval for raising Basel III compliant debt instrument Perpetual Additional Tier I capital bonds to the extent of Rs 3,000 crore and Tier-II bonds up to Rs 3,000 crore subject to availability of headroom in one or more tranches.

The stock closed 3.03 percent down at Rs 132.80 on BSE.