Last month state-run Punjab National Bank announced that it will sell 13 per cent stake in PNB Housing Finance for Rs 1,850 crore (USD 270 million) to global private equity firm General Atlantic Group.
Struggling to raise growth capital following a monutnain of bad loan provisions, state- run Punjab National Bank (PNB) has appointed merchant bankers to sell a controlling stake in PNB Housing Finance, a top bank official has said. The deal is expected to be finalised in the next few months, the official added.
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Based on latest financial disclosure Punjab National Bank has Probability Of Bankruptcy of 43.0%. This is 13.88% lower than that of the Financial Services sector, and 17.16% lower than that of Banks – Regional – Asia industry, The Probability Of Bankruptcy for all stocks is 7.96% lower than the firm.
PNB to sell 6% stake in PNB Housing Finance to raise Rs 1,324 crore. Earlier this month, PNB Managing Director and Chief Executive Officer Sunil Mehta said the bank has a headroom to sell up to 9 per cent stake in the subsidiary.
IL&FS, which has a total debt of Rs 91,000 crore ($12.97 billion), has been trying to sell. cent stake and Abu Dhabi Investment Authority 12 per cent. Apart from State Bank of India, other domestic.
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Last month, state-owned punjab national bank announced that it will sell 13 per cent stake in PNB Housing Finance for Rs 1,850 crore ($270 million) to global private equity firm General Atlantic Group and alternative investment firm Varde Partners.
In the last fiscal, the housing finance company had raised $100 million through ECBPTI | January 30, 2016, 13:40 IST NEW DELHI: PNB Housing Finance plans to raise USD. subsidiary of Punjab National.
· New Delhi, Jan 7 (PTI) Investors of the country’s oldest mutual fund UTI are likely to take a call on its listing sometime in April, said Sunil Mehta, head of Punjab National Bank, one of the.
State Bank of India (SBI), Punjab National. With regard to other non-core asset sale, Mehta said, "whatever we committed, we have done better than that. We have walked the talk. We have already.
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From 30 per cent earlier, IDBI Bank’s stake is now down to 23 per cent. The bank also has other non-core investments it can monetise, going ahead. While these are positives, they do not warrant a sharp rally in the stock. For one, the bank has the highest gnpa (gross non-performing assets) ratio of 24.7 per cent in the industry.
10 Insights from the IMN Borrower and Investor Forum on Mezzanine Debt The timing couldn’t be worse: With about $190 billion in 10-year CMBS loans set to mature in 2016 and 2017, owners need low-cost debt. If investor demand remains weak, many borrowers will need to.