Punjab National Bank (PNB) has entered into an agreement to sell its entire stake in India SME Asset Reconstruction Company (ISARC). PNB will sell 2.09 crore shares at Rs 16.29 per share, resulting in a sale consideration of over Rs 34.04 crore. The stake sale is expected to be completed by the end of the June quarter.
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.
