Scam-hit PNB can sell 13% in PNB Housing Finance by Nov 2019

Scam-hit Punjab National Bank (PNB) will be able to sell only up to 13 per cent by November 2019 in its subsidiary, PNB Housing Finance, to raise money according to the regulations.

“PNB Housing Finance was promoted by PNB, whose present shareholding in our company is 32.96 per cent. Of 32.96 per cent, shareholding equivalent to 20 per cent is locked up till November 7, 2019 according to the Securities and Exchange Board of India(Sebi) regulations,” PNB Housing Finance Limited said in a regulatory filing on February 17.

According to the state-owned lender's chief Sunil Mehta, PNB, hit by a Rs 114