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Punjab National Bank Housing Finance gets Approval from SEBI for Shares

Published on March 13, 2023
Current context: PNB Housing finance has issued a share of Rs.2500crore rights which has been approved by capital markets regulator, SEBI in March 2022.
Punjab National Bank Housing Finance gets Approval from SEBI for Shares
  • Shareholding of the Punjab national bank as a promoter of the company would go down to 30 percent.
  • PNB looked for raising the worth to Rs.4000 crores.
  • It entered a deal with joint venture partner Carlyle group.
  • The finance firm will use the issue to augmenting its capital base. Shareholding will be at a minimum of 26%.

Question:

Q.1 What is the PNB’s minimum shareholding percentage in PNB Housing finance?
a. 30%
b. 20%
c. 26%
d. 22%
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