Government infuses Rs 1,248 crore in PNB, Bank of India gets Rs 809 crore

Punjab National Bank (PNB) and Bank of India (BoI) today said they have received capital infusion of over Rs 2,050 crore, following the allotment of preferential shares to the government.

The bank has received allotment money of Rs 1,247.99 crore from the government on March 4, 2013, PNB said in a filing to the Bombay Stock Exchange (BSE).

It alloted 1.42 crore equity shares of the face value of Rs 10 each at a premium of Rs 863.05 on preferential basis to the government.

BoI, on the other hand, received Rs 808.99 crore from the government following allotment of 2.21 crore shares at a price of Rs 365.70 per unit on preferential basis.

Meanwhile, shareholders of the UCO Bank have approved the capital infusion of Rs 681 crore by the government on March 4, 2013.

The exercise is part of the Rs 12,517 crore capital infusion plan announced by the government in January. Last year, PNB got capital infusion of Rs 1,285 crore.

The government infused about Rs 20,117 crore in public sector banks during 2010-11, and Rs 12,000 crore in 2011-12.