Bank of Punjab to allot 18.78% equity to five investors

New Delhi, March 23 | Updated: Mar 24 2005, 06:17am hrs
Bank of Punjab will dilute 18.78% equity through a preferential allotment to five investors.

At an extraordinary general meeting on Wednesday, the bank got shareholders approval for allocating aggregate 24,285,176 shares to the Bank of Nova Scotia, Bharti Enterprises, Switzerland-based ICB Financial Group Holdings Ltd, Jyotsna Sharma, proprietress of export house BN Enterprises, and VN Koura.

The bank will allot these shares, at Rs 38 per share of face value of Rs 10, raising Rs 92.28 crore.