Published On: Wed, Dec 6th, 2017

PNB raises Rs 1,315 crore through OFS in PNB Housing Finance

PNB-bank-bikanerBy Accommodation Times Bureau

NEW DELHI

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

PNB said in a regulatory filing that, “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 the price, with gross sales consideration of Rs 1,315.33 crore.”

Punjab National Bank had said previous month that it would sell up to 99, 94,000 equity shares on November 28 (for non-retail investors only) and on November 29 (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).

 

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