New Delhi, Jul 7 (PTI) State-owned Punjab National Bank on Friday said it has infused Rs 72.82 crore in its Bhutan subsidiary Druk PNB Bank Ltd via a rights issue.

The investment in Rights Issue has been made on July 7, 2023 through participation in the issue of Druk PNB Bank Ltd (DPNBL), PNB said in a regulatory filing.

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Following the rights issue, PNB retains 51 per cent in the subsidiary as of now.

DPNBL was incorporated on December 31, 2008, with FDI participation, it said.

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The rights issue of DPNBL of Bhutan was at a premium of Rs 7 (face value of Rs 10) -- Rs 17 per share, the filing said.

(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)