It further stated that the Punjab National Bank’s CET-1 Ratio and overall Capital Adequacy Ratio will be enhanced by the capital received through the QIP offering.
Punjab National Bank Raises Rs 5,000 Crore
The government-owned Punjab National Bank (PNB) has raised Rs 5,000 crore by issuing equity shares to eligible institutional investors.)
PNB stated that the bank allotted about 48.19 crore equity shares at an issue price of Rs 103.75 per share, representing a 4.96 percent discount to the floor price of Rs 109.16 per share.
Citi Group Global Markets Mauritius Private Limited—ODI—was one of the recipients of the allocation. 21.89% of the overall problem was assigned to it. Morgan Stanley Asia (Singapore) Pte. – ODI, SBI Contra Fund, BofA Securities Europe SA-ODI, and Goldman Sachs (Singapore) Pte-ODI were the other participants. 8.30%, 7.89%, 5.88%, and 5.85% were accordingly allocated to them.
The bank stated that subscriptions for its QIP issue could be made from September 23 to September 26, 2024.
Bids From Qualified Institutional Buyers (QIBs)
“The bank received Bids from Qualified Institutional Buyers (QIBs) including Mutual Funds, Foreign Portfolio Investors (FPIs), Insurance Companies, etc., to the tune of Rs 41,734 crore for the QIP Issue, which is 16.7 times the base issue size of Rs 2,500 crore and 8.3 times the total issue size of Rs 5,000 crore,” stated the statement.
It further stated that the capital raised through the QIP offering will increase both the bank’s overall Capital Adequacy Ratio and its CET-1 Ratio. India’s first Small and Medium Real Estate Investment Trust (SM REIT), Property Share Investment Trust, has submitted documentation for the first public offering (IPO) of its Rs 353 crore PropShare Platina scheme.
According to the draft papers submitted on Thursday, the IPO is a new issuance without an offer-for-sale component, and the proceeds would be primarily utilized for the purchase of the Prestige Tech Platina asset.
Targeting assets valued between Rs 50 and Rs 500 crore, SM REITs are a new asset class governed by markets regulator Sebi. They are mandated to pay 95% of profits to investors.
The Prestige Tech Platina building in Bengaluru houses 246,935 square feet of office space that is part of PropShare Platina. A US-based tech company has a nine-year lease on the building, with rent increases of fifteen percent every three years. For FY26, investors are expected to get a distribution yield of 9%.
Hashim Khan and Kunal Moktan, who both have a wealth of real estate experience, formed Property Share, which has a senior team with 62 years of combined experience.
The units will be listed on the BSE, with ICICI Securities serving as the lead manager.
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