ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Business

PNB divests partial stake in PNB Housing Finance for Rs 1,851 crore

Mumbai (Maharashtra) [India], Mar 29 (ANI): Government-owned Punjab National Bank (PNB) said on Friday it is offloading some of its stake in its subsidiary PNB Housing Finance to General Atlantic Group and Varde Partners for Rs 1,851.6 crore.

ANI Mar 29, 2019 15:36 IST googleads

PNB Housing Finance has been in business for three decades

Mumbai (Maharashtra) [India], Mar 29 (ANI): Government-owned Punjab National Bank (PNB) said on Friday it is offloading some of its stake in its subsidiary PNB Housing Finance to General Atlantic Group and Varde Partners for Rs 1,851.6 crore.
Both Varde Partners and General Atlantic Group will buy over one crore shares each at Rs 850 per share in PNB Housing Finance.
"Post these transactions, PNB will continue to hold strategic stake of 19.78 per cent of the paid up capital of PNB Housing Finance and will continue as its promoter and strategic shareholder," it said in a statement.
With over three decades of experience, PNB Housing Finance provides loans to individuals and corporate bodies for purchase, construction, repair and upgradation of houses.
It also provides loans for commercial space, loan against property and loan for purchase of residential plots.
(ANI)

Get the App

What to Read Next

Business

Indian envoy in Shanghai meets Ant Group top official

Indian envoy in Shanghai meets Ant Group top official

Consulate General of India in Shanghai Pratik Mathur on Thursday met Carrie Suen, Vice President and Head of Global Affairs and Strategic Development of Ant Group.

Read More
Business

With India’s Fasteners Market Projected at USD 17 Billion by 2034

With India’s Fasteners Market Projected at USD 17 Billion by 2034

New Delhi [India], March 12: The Indian fasteners market continues to demonstrate strong momentum, having reached USD 11.2 billion in 2025 and is projected by the IMARC Group to surge to USD 17.0 billion by 2034, reflecting a robust CAGR of 4.67% during 2026-2034. This dynamic growth is fueled by the expansion of the automotive, construction, and industrial sectors, as well as increasing demand for high-performance, lightweight fasteners, and strategic government initiatives such as "Make in India." In this thriving context and to boost domestic manufacturing, Messe Stuttgart India has launched FASTNEX 2027 with its highly anticipated Signature Edition, set to take place from 8th to 10th February 2027 at the Bombay Exhibition Centre, Mumbai. The event stands as a crucial platform for industry professionals to showcase innovative products, access market intelligence, foster collaborations, and expand their business networks, ultimately contributing to the overall advancement of India's manufacturing sector.

Read More
Business

inDrive Launches Ride XL Category in Chandigarh

inDrive Launches Ride XL Category in Chandigarh

Chandigarh [India], March 12: inDrive, the global mobility and urban services platform known for its fair-price model and user-first approach, today announced the launch of inDrive Ride XL in Chandigarh. The new category introduces spacious 6-seater vehicles, designed to make group travel, family outings, airport transfers, and intercity journeys more comfortable while allowing passengers to negotiate and agree on a fair fare directly with drivers.

Read More
Business

NSE concludes process for selection of intermediaries for IPO

NSE concludes process for selection of intermediaries for IPO

National Stock Exchange of India Limited on Thursday concluded the process for the selection of merchant bankers, law firms and other intermediaries for its proposed Initial Public Offering (IPO).

Read More
Business

Bajaj General Insurance Releases Guide to Lowering Car Insurance

Bajaj General Insurance Releases Guide to Lowering Car Insurance

Pune (Maharashtra) [India], March 12: Car insurance renewal is often seen as a routine administrative task, but it is much more than that. It presents an excellent opportunity to review your existing policy, assess whether your coverage still matches your needs, and take steps to optimise your premium. By understanding the key factors that influence car insurance costs, such as vehicle value, driving history, add-ons, and usage patterns, you can make informed adjustments that reduce expenses without compromising protection. Thoughtful planning and small, strategic choices at renewal can help you save money, maintain comprehensive coverage, and enjoy greater peace of mind on the road.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.