Punjab National Bank (PNB), one of India’s major state-run lenders, is set to complete a significant share sale to institutional investors within the next six months, Chief Executive Officer Atul Kumar Goel has said. The move is part of an effort to bolster the bank’s capital reserves, Goel told Reuters in an interview.In December, the bank’s board approved a plan to raise 75 billion rupees (approximately $898 million) through equity capital. This capital increase will be achieved through a Qualified Institutional Placement (QIP), which targets institutional investors and does not extend offers to the general public, Reuters reported.”For the QIP, we are trying to get all the approvals,…
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