PNB to sell stake in housing arm

PNB to sell stake in housing arm
x
Highlights

New Delhi: State-run Punjab National Bank (PNB) on Friday said it will sell its partial stake in PNB Housing Finance to global private equity firm...

New Delhi: 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 Partners for Rs 1,851.6 crore.

PNB has entered into agreements in relation to the said transactions on Friday, the public sector bank said in a regulatory filing.

As per the agreement, PNB will sell 1,08,91,733 equity shares held in PNB Housing Finance Ltd (PNBHF) to General Atlantic Group at a price of Rs 850 per share, aggregating to Rs 925.80 crore.

Show Full Article
Print Article
Interested in blogging for thehansindia.com? We will be happy to have you on board as a blogger.
Next Story
More Stories