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PNB raises 1,315 Cr through stake sale

Staff reporter, New Delhi
06/12/2017   0 Comments

Public sector lender Punjab National Bank has raised Rs. 1,315 Crore through sale of shares in subsidiary firm PNB Housing Finance through the offer for sale route.

"Bank successfuly sold 98,15,860 equity shares of PNBHFL to different investors at above the cut ff price, with gross sales consideration of Rs. 1315.33 crore" PNB said in a regulatory filing. The sale represented six-percent of total paid-up equity share capital of the company, Bureaucracy Today reports.

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