Punjab National Bank — QIP/Rights/Pref., 23-12-2024: Allotment of Securities

Punjab National Bank has issued and allotted Basel III compliant Tier-II Bonds amounting to ₹3,000 Cr with a coupon rate of 7.43% p.a. The bonds are unsecured, subordinated, non-convertible, fully paid-up, redeemable, and taxable, qualifying as Tier II Capital. The issue, which occurred through private placement, consisted of 3,000 bonds, opened and closed on the same day. The allotment took place on the following Monday, with 14 investors participating.