(i) sale of 1,08,91, 733 equity shares held in PPNB Housing Finance to General Atlantic Group at a per share price of Rs.850/- aggregating to Rs.925.80 crore; and
(ii) sale of 1,08,91,733 equity shares held in PPNB Housing Finance to VardePartners at a per share price of Rs.850/- aggregating to Rs.925.80 crore.
The Transactions are subject to satisfaction of customary conditions, including receipt of applicable regulatory approvals.
Post these Transactions, PNB would continue to hold strategic stake of 19.78% of the paid up capital of PPNB Housing Finance (as on 31 December 2018) and shall continue as a promoter and strategic shareholder of PPNB Housing Finance .
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content