A special committee of the board fixed floor price for the qualified institutional placement (QIP) issue at Rs 35.51 per share.The capital raising committee of the board of Punjab National Bank (PNB) at its meeting held on Monday, 10 May 2021, authorized the opening of the QIP issue on 10 May 2021. The 'Relevant Date' for the purpose of the QIP is 10 May 2021 and accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under SEBI ICDR Regulations is Rs 35.51 per equity share, PNB said in a regulatory filing. The capital raising committee of the bank is scheduled to be held on Friday, 14 May 2021, to consider and determine the issue price, including a discount, if any, for the equity shares to be allotted to eligible qualified institutional buyers, pursuant to the QIP issue. The bank may, at its discretion, offer a discount of not more than 5% on the floor price.