Punjab National Bank offloads stake in PNB Housing Finance stocks rise 2 per cent
PNB would continue to hold a strategic stake of 19.78% in PNB Housing.

The share price of Punjab National Bank (PNB) and PNB Housing Finance (PNBHF) gained 2 percent each in early trade on Friday after PNB offloaded its 12.92 per cent stake in PNBHF, in part or full to strategic/financial investors through a competitive bidding process.

PNB India has sold 12.92 per cent or 1.08 cr shares in PNB Housing, offering 6.46 per cent each to general Atlantic Group & Varde Partners for a total consideration of Rs 1,851.6 crore.

The filing to the exchange states that sale of 1,08,91,733 equity shares each has been transacted to both the firms (Atlantic Group & Varde Partners) at a per share price of Rs 850, aggregating to Rs 925.80 cr.

Post the mentioned transactions,…