New Delhi, Mar 24 (PTI) State-owned Punjab & Sind Bank on Monday fixed the floor price of Rs 40.38 per share to raise funds through QIP.

The bank has proposed to raise Rs 2,000 crore through Qualified Institutional Placement (QIP).

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The board in its meeting approved and adopted the preliminary placement document dated March 24, 2025, together with the application form in connection with the issue, Punjab & Sind Bank said in a regulatory filing.

The board also approved the floor price of the issue at Rs 40.38 based on the pricing formula as prescribed by Sebi regulations, it added.

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The bank may offer a discount of not more than 5 per cent on the floor price so calculated for the issue, it 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)