Punjab National Bank has informed the Exchange about General Updates
PNB · price
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Awaiting price reaction for this filing.
Punjab National Bank has completed the sale of its entire 20.90% stake (2.09 crore shares) in India SME Asset Reconstruction Company Limited (ISARC), an associate company, on 17 June 2025. The bank received a cash consideration of Rs. 34.05 crore at Rs. 16.29 per share from M/s Authum Investment and Infrastructure Limited, which received RBI approval for the change in sponsorship on 25 March 2025. The definitive agreement for this sale was signed on 13 May 2025. For FY 24-25, ISARC reported total income of Rs. 36.40 crore, PBT of Rs. 27.04 crore, and PAT of Rs. 19.79 crore. The transaction is not a related party transaction and was carried out at arm's length.
This is a minor divestment for PNB — the cash inflow of ~Rs. 34 crore is small relative to the bank's size, but it simplifies the bank's group structure by exiting an associate in the asset reconstruction space. Negligible impact on share price, but slightly positive on the cleanup of non-core holdings.