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IDBI Bank & PNB QIPs see weak demand; here’s why

Updated : December 16, 2020 05:09 PM IST

IDBI Bank and Punjab National Bank (PNB) are in focus after their QIPs see a weak demand.

IDBI Bank has launched QIP of Rs 2,000 crore at an indicative price of Rs 38.5 per share. So, the tier I ratio increases by 127 basis points, book value rises by 1 percent to about Rs 33.5 per share with an equity dilution of 5 percent.

PNB has launched QIP of about Rs 7,000 crore at an indicative price of Rs 35.5 per share. The tier I ratio will rise by 113 basis points, but book value will decline more than 10 percent. Equity dilution will be around 21 percent.

CNBC-TV18’s Abhishek Kothari gets more details.
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