Punjab National Bank raises Rs 1,315 cr through stake sale in PNB Housing Finance

New Delhi: Public sector lender Punjab National Bank has raised over Rs 1,315 crore through sale of shares in subsidiary firm PNB Housing Finance (PNBHFL) through the offer for sale (OFS) route. [caption id=“attachment_2234636” align=“alignleft” width=“380”] Punjab National Bank. AFP[/caption] “The Bank successfully sold 98,15,860 equity shares of PNBHFL to different investors (non-retail and retail) at above the floor price/cut off price, with gross sales consideration of Rs 1,315.33 crore,” PNB said in a regulatory filing. PNB said last month had said that it would sell up to 99,94,000 equity shares on 28 November (for non-retail investors only) and on 29 November (for retail investors and non-retail investors who choose to carry forward their bids) representing 6 percent of the total paid up equity share capital of the company (PNB Housing Finance). Punjab National Bank shares were trading at Rs 173.20, up 0.06 percent on BSE.