Punjab National Bank Housing Finance gets Approval from SEBI for Shares

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.

• 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%