Punjab & Sind Bank Eyes QIP to Raise Capital and Reduce Government Share

Punjab & Sind Bank’s Managing Director, Saha, has revealed that the bank is exploring a Qualified Institutional Placement (QIP) to raise additional capital. QIP allows banks to issue shares to institutional investors, providing a quick and efficient way to strengthen the balance sheet. The move is aimed at reducing the government’s holding in the bank, which remains substantial. The bank will seek regulatory approvals before proceeding with the placement.