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CAM, Crawford B, Squires do $514 QIP for Punjab Nat’l Bank

Punjab National Bank (PNB) raised approximately INR 3,788.04 crore through a qualified institutions placement of 1,06,70,52,910 equity shares of face value INR 2 each, at a price of INR 35.50 per equity share (at a discount of 4.95% i.e., INR 1.85 per equity shares on the Floor Price), including a premium of INR 33.50 per equity share, according to reports.

Cyril Amarchand Mangaldas advised the managers, ICICI Securities, Axis Capital, Edelweiss Financial Services, IIFL Securities, SBI Capital Markets, YES Securities (India) and PNB Investment Services, led by a team of partner Shatarupa Dasgupta, with support from principal associate Anjaneya Das, senior associate Nayan Jain, associate Ambuj Gupta, associate Rishav Buxi, associate Aakansha Bhardwaj, and associate Sanjana Ravjiani.

Crawford Bayley & Co advised Punjab National Bank led by a team including partner Sanjay Asher and his team.

Squire Patton Boggs (MEA) LLP acted for the managers as to non-Indian laws.


Deal value: INR 3,788.04 crore

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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