New Delhi:  Punjab & Sind Bank on Tuesday said that its board will meet on December 30 to consider a proposal for raising up to Rs 250 crore by various modes, including equity and bonds issuance, the bank said in a regulatory filing.

The bank said that it plans to raise capital up to an amount and aggregating to Rs 250 crore in any combinations of equity shares or debt in the form of Basel III compliant bonds. "The capital will be raised in one or more tranches within a period of 12 months from the date of approval by way of issue of these instruments," the lender said.

Punjab & Sind Bank shares closed flat at Rs 32.70 apiece on BSE.

(PSU Watch– India's Business News center that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)