Punjab National Bank (PNB) has entered into agreement for sale of 1,08,91, 733 equity shares held in PNB Housing Finance (PNBHFL) to General Atlantic Group at a per share price of Rs 850 aggregating to Rs 925.80 crore. The bank has also inked agreement for sale of 1,08,91,733 equity shares held in PNBHFL to VardePartners at a per share price of Rs 850 aggregating to Rs 925.80 crore.
Post above transactions, the bank would continue to hold strategic stake of 19.78% of the paid up capital of PNBHFL and shall continue as a promoter and strategic shareholder of PNBHFL.
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.
