New Delhi: Shares of government-owned Punjab and Sind Bank rose marginally by 0.11% to Rs 26.76 following the announcement that the bank will hold an Extraordinary General Meeting (EGM) on January 21, 2026. The EGM will seek shareholder approval for raising equity capital up to ₹3,000 crore through a Qualified Institutional Placement (QIP).
Purpose of the Extraordinary General Meeting
The bank has informed stock exchanges that the EGM is being convened to consider and approve the creation, offer, issue, and allotment of fresh equity shares with a face value of ₹10 each, including premium, up to a total of ₹3,000 crore. The terms and conditions of the issuance will be decided by the Board or its designated committee at their absolute discretion.
The cut-off date for shareholder attendance and voting has been fixed as Wednesday, January 14, 2026. The EGM will be conducted via video conferencing, with remote e-voting enabled from January 17 to January 20, 2026.
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Strategic Reasons Behind the Capital Raising
Punjab and Sind Bank said the proposed fundraise through QIP aims to:
- Meet Basel III regulatory requirements, ensuring adequate capital adequacy ratios
- Comply with minimum public shareholding norms
- Support general business growth and strengthen the bank’s balance sheet
The bank emphasized that the equity infusion will enable it to maintain financial stability and sustain expansion plans in line with regulatory guidelines and market growth opportunities.
About Punjab and Sind Bank
Punjab and Sind Bank is a government-owned public sector bank in India, providing a wide range of retail, corporate, and MSME banking services. Established in 1908, the bank plays a significant role in supporting financial inclusion, public sector lending, and regional economic development across the country.
