PNB to divest stake in Canara HSBC Life Insurance Company Ltd through IPO

The Board of directors of Punjab National Bank in its meeting held on 04.06.2024 has accorded its approval for initiating the process of diluting 10.00% stake of the Bank in M/s Canara HSBC Life Insurance Company Ltd., an associate company of the Bank, by listing the Company in Stock Exchanges (BSE/NSE) through Initial Public Offer (IPO). The same shall be subject to regulatory approvals.

Shares of Punjab National Bank was last trading in BSE at Rs. 121.80 as compared to the previous close of Rs. 115.35. The total number of shares traded during the day was 6561290 in over 39662 trades.

The stock hit an intraday high of Rs. 122.60 and intraday low of 110.55. The net turnover during the day was Rs. 760678362.00.

Source : Equity Bulls

Keywords

PunjabNationalBank INE160A01022 PNB StakeSale CanaraHSBCLifeInsuranceCompany