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PNB to sell stake in NSE

Punjab National Bank is planning to sell its entire holding of 0.11% in the National Stock Exchange (NSE). It expects to raise around Rs 480 crore from the stake sale. The bank’s subsidiary PNB Investment Services invited bids from merchant bankers on behalf of PNB to arrange for investors. The bank has set a floor price of Rs 879 per equity. Earlier, State Bank of India said it would sell 3.89% stake in the NSE. Punjab National Bank said it intends to complete the assignment of selling stake in the NSE by 30 September 2018.

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