With the allotment, Government of India holding has increased from 83.06% to 97.07%.
The government has infused тВ╣5,500 crore equity capital into Punjab & Sind Bank in lieu of allotment of over 335 crore preference shares to it.
The lender on Thursday allotted 3,35,16,14,868 equity shares of the bank at an issue price of тВ╣16.41 per equity share to the government aggregating to тВ╣5,500 crore.
The shareholders approved the allotment of shares to the government with requisite majority of 99.018%, cast in favour of the resolution, the bank said in a regulatory filing on Friday.
With the allotment, Government of India holding has increased from 83.06% to 97.07%, it said.
Punjab & Sind Bank stock was trading at тВ╣16.10 on BSE, down 1.83% from the previous closes.
