BOP to raise upto Rs30bn from Punjab govt in mega capital injection

August 10, 2026 (MLN): The Bank of Punjab's board has greenlit one of the largest capital injections in the bank's history, clearing the way for the Government of Punjab to pump up to Rs30 billion into the lender through a fresh issuance of ordinary shares.

The decision came out of BOP's 334th Emergent board meeting held August 7, according to a disclosure filed with the Pakistan Stock Exchange.

The shares will be issued to the Punjab government directly, bypassing a rights issue, in two tranches: up to Rs20 billion by December 31, 2026, with the remaining balance to follow by June 30, 2027.

The pricing mechanism: BOP has fixed the issue price at Rs38.20 per ordinary share. But there's a built-in escalator: if the market price runs ahead of that level by the time shares are actually issued, the government will pay a 5% premium over the prevailing market price instead.

Not a done deal yet. The proposal still needs to clear a gauntlet of approvals, including shareholders at an Extraordinary General Meeting, plus sign-off from the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan.

BOP said further updates will be communicated to the PSX as the process unfolds.

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