Punjab & Sind Bank plans to raise Rs.3000 Crore via QIP. For this purpose, the Extraordinary General Meeting is scheduled to be held on 21 January 2026.
| S. No. | Particulars | Details |
|---|---|---|
| 1 | Date and Time of EGM | Wednesday, January 21, 2026 at 11:00 a.m. through Video Conferencing (VC) / Other Audio Visual Means (OAVM) |
| 2 | Business to be Transacted | To consider and approve raising of equity capital up to an amount of Rs. 3000 crore by way of QIP |
| 3 | Cut-off Date | Wednesday, January 14, 2026 for attendance at the meeting and voting (including remote e-voting) at the meeting |
| 4 | Period of Remote e-voting | From 10:00 a.m. on Saturday, January 17, 2026 to 05:00 p.m. on Tuesday, January 20, 2026 |
Currently, the Government of India has 93.9% stake in Punjab & Sind Bank. With this fundraising, some stake of the Government will be lost in the Bank.
QIP is a method used by listed companies in India to raise money by issuing shares to qualified institutional investors, instead of offering shares to the general public. Only Qualified Institutional Buyers (QIBs) such as Mutual funds, Insurance companies, Banks, Foreign portfolio investors (FPIs), Pension funds can participate in QIP. Retail investors cannot participate in a QIP.
Related Articles
-
-
-
-
-
-
-
-
-
-
-
-
