Public sector lender Punjab National Bank (PNB) has signed a Supplemental Agreement to its existing Share Subscription and Purchase-cum-Shareholders Agreement to divest its entire stake in India SME Asset Reconstruction Company Limited (ISARC), an associate entity.
Under the agreement, PNB will sell 2.09 crore shares at ₹16.29 per share, amounting to a total consideration of over ₹34.04 crore. The stake sale is expected to conclude by the end of the June quarter.
ISARC, established to support SME loan recovery, is jointly sponsored by SIDBI, Bank of Baroda, Punjab National Bank, and SIDBI Venture Capital Ltd. The transaction aligns with PNB’s strategic disinvestment objectives.
Shares of PNB closed at ₹97.65 on the BSE, up 1.93% from the previous close.
About PNB
Punjab National Bank, headquartered in New Delhi, was founded in May 1894. It serves over 180 million customers through more than 12,248 branches and 13,000+ ATMs across India. It is the second largest public sector bank in India in terms of its business volume.
