PNB raises Rs 1,315 crore

Public sector lender Punjab National Bank has raised over Rs 1,315 crore through sale of shares in subsidiary firm PNB Housing Finance (PNBHFL) through the offer for sale (OFS) route. "The Bank successfully sold 98,15,860 equity shares of PNBHFL to different investors (non-retail and retail) at above the floor price/cut off price, with gross sales consideration of Rs 1,315.33 crore," PNB said in a regulatory filing. PNB said last month had said that it would sell up to 99,94,000 equity shares on November 28 (for non-retail investors only) and on November 29 (for retail investors and non-retail investors who choose to carry forward their bids) representing 6 per cent of the total paid up equity share capital of the company (PNB Housing Finance).