The funds will be raised in one or more tranches within a period of 12 months from the date of approval by way of issuance of these instruments, said the PSU bank.
Punjab & Sind Bank is a relatively small PSB, founded in 1908 in New Delhi. GoI's ownership stood at 98.25% as on 30 September 2022.
The bank's standalone net profit jumped 27.4% to Rs 278.10 crore on 6.2% rise in total income to Rs 2120.17 crore in Q2 FY23 over Q2 FY22.
Shares of Punjab & Sind Bank advanced 4.47% to Rs 33.90 on Friday, 30 December 2022.
