India’s second largest PSU bank Punjab National Bank (PNB) has on Thursday sold 3,30,000 shares in the ICRA (Information and Credit Rating Agency of India) for about Rs 108.6 crore, through open market transactions.
The share-holding pattern of ICRA, as on March end, showed that PNB was holding almost 3,40,000 shares, which represents almost 3.43% stake.
Moreover, there is a market focus that PNB may sell its stake in PNB Housing Finance Limited also. As of March end, the bank PNB owns almost 32.96% stake in its subsidiary PNB Housing Finance Limited.
Further, PNB is planning to sell its non-core asset to raise additional capital. The bank’s board has also approved stake sales in the Global Credit Rating Information Services CRISIL and BSE.
On Friday, post lunch hours of trade, shares of Punjab National Bank was trading higher by 3.96 percnet at Rs. 76.15 on BSE. The stock opened at Rs. 73.95 and hit a high and low of Rs. 76.35 and Rs. 73.75 respectively, during the day.
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