Foreign Institutional Investors (FIIs) have reduced their stake in Punjab National Bank (PNB), one of the leading public sector lenders in India to 17.20% at the end of March 2014 quarter from 17.51% as on December 31, 2013.
On the other hand, domestic institutional investors (DIIs) have raised shareholding in the company to 18.66% at the end of March 2014 quarter from 18.51% as on Dec. 31, 2013.
Under DII, insurance companies held maximum stake of 13.54%, followed by mutual funds / UTI (3.34% stake), financial institutions / banks (1.75% stake) and central government / state governments (0.03% stake). Meanwhile, promoter and promoter group shareholding was unchanged at 58.87% at the end of March 2014 quarter.