The bank plans to issue 24.10 crore shares as part of the base issue, with the option to increase to 48.19 crore shares if the issue is upsized.
The base issue represents 2.19% of the pre-issue outstanding equity capital, while the upsized issue would account for 4.38%.
Shares of PNB, which have surged 46% over the past year compared to a 19% gain in the Bank Nifty, closed at Rs 111.51 on Monday.
In an exchange filing, the bank announced that its board has set a floor price of Rs 109.16 per share for the share sale. The bank had obtained board approval last year to raise up to Rs 7,500 crore through share sales in one or more tranches during the 2024-25 fiscal year.
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The floor price of Rs 109.16 per share is based on the pricing formula prescribed under Regulation 176 of the SEBI ICDR Regulation, the bank said in an exchange filing.
