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Punjab & Sind Bank to raise Rs 1,000 crore through preference shares

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New Delhi: 

State-owned Punjab & Sind Bank today said it will raise about Rs 1,000 crore by issue of preference shares.

The board has approved raising of capital through preferential issue of equity shares up to Rs 1,000 crore at a rate to be decided later, Punjab & Sind Bank said in a filing on Bombay Stock Exchange (BSE).

Shares of the bank closed at Rs 80.10 a piece, up 11.40 per cent on BSE.

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