PNB
PNB sets minimum price of Rs 109 for share sale. Public sector Punjab National Bank (QIP) on Monday fixed a minimum price of Rs 109.16 per share for share sale through qualified institutional placement (QIP). The bank had taken the approval of the board of directors last year to raise up to Rs 7,500 crore through share sale in one or more installments during 2024-25. PNB said in a notice to the stock exchange that the board of directors has approved and adopted the preliminary placement document along with the application form in relation to the issue. The bank said that the board approved the minimum price of Rs 109.16 per share based on the pricing formula determined under Regulation 176 of SEBI ICDR Regulations. The bank cannot give a discount of more than five percent on the minimum price fixed for the issue.
Waaree Energies, MobiKwik get nod for IPO
Solar panel maker Waaree Energies and digital payments firm One Mobikwik Systems have received Securities and Exchange Board of India (SEBI) approval for initial public offerings (IPOs). The market regulator gave this information on Monday. Waaree Energies had submitted its IPO documents in December 2023 and Mobikwik in January 2024. Both the companies were given the green signal by SEBI on September 19 to bring public issues.
Wari Energies will raise 3000 crores
According to the draft documents (DRHP) of Wari Energies, new shares worth Rs 3,000 crore will be issued in its proposed IPO. Apart from this, the promoters and existing shareholders will also bring a sale offer (OFS) of 32 lakh equity shares. Mobikwik wants to raise up to Rs 700 crore through the IPO. This issue will be entirely based on new equity shares.
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