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PNB to sell stake in housing finance firm, other units – Times of India

NEW DELHI: State-run Punjab National Bank (PNB) Friday said it will sell its partial stake in PNB Housing Finance to global private equity firm General Atlantic Group and alternative investment firm.

Finance minister P Chidambaram is targeting to raise over Rs 50,000 crore from stake. Unit Trust of India and the shares and assets left with the entity are net of redemption of liablities of the.

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Punjab National Bank has raised over Rs 1,315 crore through sale of shares in subsidiary firm PNB Housing Finance through the offer for sale (OFS) route.. via stake sale in PNB Housing Finance.

Last week, the bank and Carlyle Group, which owns over 32% in PNB Housing Finance, had announced their plans to sell at least 51% stake in the company.

Lodha Developers, which aims to launch IPO when market condition improves, is also looking to raise about Rs 700 crore by selling stake in a mid-income housing. While the Lincoln Square project has.

Read more about PNB Housing Finance announces OFS of about 1 bn shares at Rs 1,325 apiece on Business Standard. Earlier this month, PNB Managing Director and Chief executive officer sunil Mehta said the bank has a headroom to sell up to 9 per cent stake in the subsidiary.

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Punjab National Bank (PNB) and Carlyle Group plan to initiate the process to sell at least 51 per cent stake in the mortgage lender PNB Housing Finance, the state-run bank today said.

Punjab National Bank (PNB) is looking to sell 7 percent of its stake in its mortgage arm pnb Housing Finance. Two officials familiar with the development told the Economic Times that the public sector bank has received interest from some players and private equity investors. "The bank is open to selling its stake in the firm.

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Mumbai: State-run Punjab National Bank (PNB) is looking to sell up to 10% in its housing finance unit and list its life insurance subsidiary, managing director and chief executive officer (CEO.