Punjab National Bank shares in focus as board approves raising $1.5 billion in foreign currency funds

According to a regulatory filing dated July 29, the public sector bank said that it will raise foreign currency funds by establishing a Medium-Term Note (MTN) Programme up to $1.5 billion.

The bank further stated that it will also issue bonds thereunder through PNB IFSC Banking Unit GIFT City.

PNB IFSC Banking Unit (PNB IBU), GIFT City is a PNB branch, established on April 8, 2026, with an objective to provide international banking services to Indian, as well as overseas customers.

PNB IBU is regulated by the International Financial Services Centres Authority (IFSCA).

PNB Q1 snapshot

The government-owned bank recorded a 213% year-on-year (YoY) growth in its standalone net profit to ₹5,253 crore in the April-June quarter of the 2026-27 financial year (Q1 FY27), with support from rising interest income and margins.

In the corresponding period of the previous year, it had logged a profit of ₹1,675 crore. Its profit surged YoY as it had incurred a ₹5,083.25 crore tax expense in the year-ago period, which reduced the overall financial performance of the lender in Q1 FY26.

In comparison, PNB’s tax expense for the June quarter of FY27 was at ₹1.724.72 crore.

Its net interest income (NII) advanced by 3% YoY to ₹32,897 crore during the quarter under review, compared with ₹31,963 crore in the first quarter of FY26.

PNB stock performance

Shares of PNB closed 0.51% lower at ₹111.08 per unit on the National Stock Exchange (NSE) on Wednesday, July 29. However, the fundraiser announcement came after the market closed.

The scrip has gained 4% over the month but lost more than 11% on a year-to-date (YTD) basis.

While the stock hit a 52-week high of ₹135.15 per equity share on January 15, 2026, it touched a year’s low of ₹98.50 apiece on May 18, 2026.

Punjab National Bank has a total market capitalisation of ₹1.28 lakh crore as of July 29, 2026, according to data on the NSE.