Sale17 Jun 2025, 05:11 pm
Punjab National Bank Completes Sale of Stake in Associate Company
AI Summary
Punjab National Bank has completed the sale of its 20.90% stake in M/s India SME Asset Reconstruction Company Limited (ISARC) on 17.06.2025. The sale was done for a consideration of Rs. 34,04,61,000 (2,09,00,000 shares Rs 16.29 per share). The buyer, M/s Authum Investment and Infrastructure Limited, does not belong to the promoter/group companies. This transaction does not constitute a related party transaction and is not part of a Scheme of Arrangement.
Key Highlights
- Punjab National Bank sells 20.90% stake in ISARC
- Sale completed on 17.06.2025
- Consideration received: Rs. 34,04,61,000
- Buyer: M/s Authum Investment and Infrastructure Limited
- Not a related party transaction