PNB is going to raise funds by selling 15 crore shares, these people will have silver along with bank employees

Punjab National Bank (PNB), one of the country's largest public sector banks, is planning to sell its shares. The bank will raise funds by selling 15 crore shares under its Employee Stock Purchase Scheme.
PNB will propose to raise Rs 780 crore through this scheme by selling shares at the current market price and allotment of 15 crore fresh equity shares at a face value of Rs 2 each before the board members at the Annual General Meeting to be held on June 30.
Let us tell you that till March 31, 2023, the government's stake in PNB is 73.15 percent. Therefore, these 15 crore fresh shares will be issued by PNB at such price and on such terms and conditions as may be agreed by the Board, so that the Government holding is not less than 52 percent.
The bank had earlier also raised Rs 500 crore in the year 2018 under the Employee Stock Purchase Scheme. Let us tell you that the bank had sold 10 crore new equity shares to its employees under this scheme at that time. The bank issued these shares at a discount price of Rs 53.95 per share.
Punjab National Bank (PNB) released its results for the fourth quarter of FY23 last month. The bank's profit had increased 5 times to Rs 1,159 crore in the March quarter. Releasing the results, PNB had told that a year ago i.e. in 2022 the total income was Rs 21,095 crore, which increased to Rs 27,269 crore in this financial year.
In the regulatory filing, the bank said that the NPA figures of the bank have also come down. According to the data, the gross non-performing asset (NPA) of the bank has increased to 8.74 percent by March 31, 2023, which was 11.78 percent in March 2022, a year ago.
Apart from this, if we talk about the bank's net NPA, then the bank's net NPA has come down to 2.72 percent, which was 4.8 percent in 2022.