PNB gains 2% on offloading stake in PNB Housing

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PNB would continue to hold a strategic stake of 19.78 percent of the paid-up capital of PNBHF.




The share price of Punjab National Bank (PNB) and PNB Housing Finance (PNBHF) gained 2 percent each in the early trade on Friday after PNB is going to offload its stake in PNBHF.

PNB is its BSE release said that it has entered into agreements for sale of 1,08,91,733 equity shares held in PNB Housing Finance (PNBHF) to General Atlantic Group at a per share price of Rs 850 aggregating to Rs 925.80 crore.

Also, the sale of 1,08,91,733 equity shares held in PNBHF to VardePartners at a per share price of Rs 850 aggregating to Rs 925.80 crore.

Meanwhile, PNB would continue to hold a strategic stake of 19.78 percent of the paid-up capital of PNBHF.

At 09:30 hrs PNB Housing Finance was quoting at Rs 846, up 1.99 percent and Punjab National Bank was quoting at Rs 96.85, up 1.57 percent on the BSE.

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