Punjab National Bank to sell stake in housing finance firm, other units

PNB to sell stake in housing finance firm, other units – New Delhi, Jun 8 Punjab National Bank said today that it will divest stake in its subsidiary pnb housing finance and other entities like BSE, ICRA and Crisil depending on market conditions.

State-run Punjab National Bank (PNB) on Friday said it will sell its partial stake in PNB Housing Finance to global private equity firm General Atlantic Group and alternative investment firm Varde.

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Punjab National Bank to sell 6% stake in housing finance arm. PNB Housing is a unit of PNB, which owned 51% at the time of IPO. Its stake declined to 38.86% post the public offering. General Atlantic purchased a 3.38% stake in PNB Housing for Rs 501 crore ($75 million), besides the $7 million, it bet during the IPO in October 2016.

The amount raised will be used to fund its expansion across the country.PTI | October 19, 2016, 18:00 IST MUMBAI: Mortgage lender PNB Housing Finance. Punjab National Bank and Carlyle Group, L.P –.

Punjab National bank (pnb) posted net profits to. Additionally, the board of directors of PNB has given the green signal to the bank management to partially sell its stake in PNB Housing Finance.

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The ministry is keeping a tight watch on the bank’s performance so as not to let the bank slip into further mess. New Delhi: The finance ministry is hopeful of Punjab National Bank. and his uncle.

The sale of Punjab National Bank’s 13 per cent stake in PNB Housing Finance is credit positive as it will strengthen the bank’s capital, Moody’s said Monday. Last month state-run Punjab National.

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Punjab National Bank said today that it will divest stake in its subsidiary PNB Housing Finance and other entities like BSE, ICRA and Crisil depending on market conditions. The shedding of stake in non-core assets is part of PNB’s reforms agenda adopted in January this year. Get more India News and Business News on Zee Business.

Punjab National Bank – Last month, state-owned Punjab National Bank announced that it will sell 13 per cent stake in PNB Housing Finance for Rs 1,850 crore ($270 million) to global private equity firm General Atlantic Group.

PNB said last month had said that it would sell up to 99,94,000. Public sector lender Punjab National Bank has raised over Rs 1,315 crore through sale of shares in subsidiary firm PNB Housing.