You are here: Home » Finance » News » Banks
SBI likely to raise Rs 10,000 crore through infrastructure bonds
Business Standard

PNB gets Centre's approval to divest its entire stake in UTI AMC

The bank holds 15.22 per cent stake in UTI AMC worth around Rs 1300 crore at current valuation

Topics
PNB | UTI Mutual Fund | UTI AMC

BS Reporter 



Punjab National Bank, PNB
Punjab National Bank

The Punjab National Bank (PNB) on Thursday said it received the government’s approval to divest its entire stake in UTI Asset Management Company as part of its non-core asset sale plan to shore up its capital base.

“The Exchange is hereby informed that the Bank has received approval of DIPAM, Ministry of Finance, for divestment of Bank's entire/part stake in UTI Asset Management Company Limited in single or multiple tranches subject to compliance of Regulations/other applicable regulatory guidelines,” said in a stock exchange filing.

The bank holds 15.22 per cent stake in worth around Rs 1300 crore at current valuation.


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Thu, November 24 2022. 22:51 IST

RECOMMENDED FOR YOU

.