PNB infuses Rs 72.83 crore in its Bhutan subsidiary

State-owned Punjab National Bank on Friday said it has infused Rs 72.82 crore in its Bhutan subsidiary Druk PNB Bank Ltd via a rights issue.

The investment in Rights Issue has been made on July 7, 2023 through participation in the issue of Druk PNB Bank Ltd (DPNBL), PNB said in a regulatory filing.

Following the rights issue, PNB retains 51 per cent in the subsidiary as of now.

DPNBL was incorporated on December 31, 2008, with FDI participation, it said.

The rights issue of DPNBL of Bhutan was at a premium of Rs 7 (face value of Rs 10) -- Rs 17 per share, the filing said.