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PNB may dilute stake in subsidiaries

Punjab National Bank may consider diluting its stake in some of its subsidiaries in order to raise capital. The bank may also think of selling real estate assets. The bank’s MD and CEO Usha Ananthasubramanian said the bank may consider sale of certain important core assets and it is trying to get their valuations first. The bank has subsidiaries like PNB Housing Finance, PNB Gilts, and PNB Investment Services. Besides, it is one of the sponsors of the country’s oldest asset management company UTI Mutual Fund. Besides, the bank had acquired 7 banks in the past and as such there is a good real estate asset too.

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