PNB Gilts to go public

PNB Gilts to go public
ENS ECONOMIC BUREAU

MUMBAI, JULY 4: PNB Gilts Ltd, one of the six leading primary dealers, is entering the capital market, with its public issue of 3.5 crore equity shares on July 11 to augment the company's long-term resources, strengthen its position as a primary dealer and enhance its net-owned funds.

Addressing mediapersons, S S Kohli, chairman, Punjab National Bank said that being a primary dealer, the company is predominantly engaged in trading government securities and treasury bills. To diversify its portfolio and optimise returns, PNB Gilts also deals in money market instruments and PSU bonds. Subsequent to permission from the reserve bank of India, the company has plans to undertake transactions in derivatives, swaps, forward rate agreements and strips, as per the guidelines as and when issued by the regulatory authorities.