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28-Nov2017

Punjab National Bank to sell 6% stake in PNB Housing Finance

Punjab National Bank (PNB) is eyeing to raise over Rs 1,324.21 crore by diluting 6% holding in subsidiary firm PNB Housing Finance in an offer for sale (OFS). The floor price of the OFS is Rs 1,325 per share. The OFS is part of bank's strategy to sell non-core assets.

The Bank proposes to sell up to 99,94,000 equity shares on November 28 (for non-retail investors only) and on November 29 (for retail investors and non-retail investors who choose to carry forward their bids).

Punjab National Bank (PNB) is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.


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