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Punjab National Bank has appointed merchant bankers for its proposed ₹5,000-crore fund-raising plans.
The bank’s board has approved a qualified institutional placement to raise ₹5,000 crore. Besides, PNB will look to raise funds by selling stakes in non-core assets such as PNB Housing Finance, Principal PNB Asset Management Company and Principal Trustee Company. Investors will closely monitor the development.
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