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

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

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. Home ITR 2019

State-run Punjab National Bank (PNB) on Friday said it will sell part of its stake in PNB Housing Finance (PNBHFL) to global equity firms General Atlantic Group and Varde Partners for a total of Rs 1,851.60 crore. The bank has entered into agreements for the sale.

Punjab National Bank (PNB) on Thursday called off a deal to sell stake in its housing finance arm to global private equity firms general atlantic and Varde Partners.

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

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State-run Punjab National Bank (PNB) and Carlyle Group, which owns over 32 per cent in PNB Housing Finance, have announced that they have appointed merchant bankers, to sell at least 51 per cent stake. READ FULL STORY

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PNB to divest stakes in several firms. The fraud-hit punjab national Bank on Friday announced that it would divest its stakes in its housing finance unit – PNB Housing Finance – and other.

Punjab National Bank (PNB) and Carlyle Group plan to sell at least 51 per cent stake in the mortgage lender PNB Housing Finance.PNB owns 32.79 per cent stake and Carlyle Group, through its investment

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

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At present, the bank holds 39% of the total share with the Housing Finance while other firms including General atlantic singapore fund Fii Pte, a private equity firm, and Government of Singapore holds 6.9% and 1.07% shares, respectively, with the mortgage lender. Although, the bank has decided to sell off its stake to the firms, the amount or.