PNB GILTS LTD. has informed the Exchange regarding Notice of Postal Ballot
PNBGILTS · price
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PNB Gilts Limited, a subsidiary of Punjab National Bank and a Primary Dealer in Government Securities, has sent out a postal ballot notice to its shareholders seeking approval to raise the company's borrowing limit. The resolution proposes increasing the maximum borrowing capacity from the existing Rs. 25,000 crore to Rs. 30,000 crore, over and above the company's paid-up share capital, securities premium, and free reserves. This is needed to support future business plans and meet funding requirements, including participation in RBI's T-Bills and Government Securities auctions. Shareholders can vote electronically through NSDL's e-voting platform from May 22, 2025 to June 20, 2025, with the cut-off date for eligibility set as May 16, 2025. The previous borrowing limit of Rs. 25,000 crore was approved by shareholders in March 2022.
If approved, the company will have greater flexibility to raise funds for its primary dealership business and government securities trading. For shareholders, this is a routine governance matter and does not involve any equity dilution or direct financial cost, though it signals the company's expectation of higher business volumes and funding needs going forward.