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PNB sells stake in PNB Housing Fin

PNB sells stake in PNB Housing Fin
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First Published: Wed, Dec 09 2009. 11 26 PM IST
New Delhi: Punjab National Bank (PNB) has sold a 26% stake in its fully-owned unit PNB Housing Finance to financial services firm Destimoney for Rs79.17 crore.
Destimoney, formerly known as Dawnayday, will further bring in Rs137 crore into PNB Housing Finance, which will be converted to equity over two years, a statement from PNB Housing Finance said.
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First Published: Wed, Dec 09 2009. 11 26 PM IST