New Delhi, Mar 28 (PTI) State-owned Punjab National Bank on Thursday said it will raise Rs 10,000 crore by issuing bonds in the next fiscal.

"The Board of Directors of the Bank, in its meeting held today, has approved raising of capital for an amount up to Rs 10,000 Crore through Basel III Compliant Bonds (Additional Tier-I Bonds up to Rs 7,000 Crore and Tier- -II Bonds up to Rs 3,000 Crore), to be raised in one or more tranches during FY 2024-25," PNB said in a regulatory filing.

Also Read | Good Friday 2024 FAQs: Is Stock Market Open or Closed on Good Friday? Is There a Bank Holiday on Good Friday? Here’s All You Need To Know.

Shares of PNB closed at Rs 124.35 on the BSE, up 1.30 per cent.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)