Sells Stake - Business Outrank

PNB has decided to sell its entire stake in India SME Asset Reconstruction Company Ltd (ISARC) for ₹34.04 crore as part of a strategic push to streamline its non-core investments and sharpen its focus on core banking operations. The public sector lender signed a definitive agreement on May 13, 2025, to sell 2.09 crore shares at ₹16.29 each. The deal is expected to be completed by the end of the first quarter of FY26. This exit comes after the Reserve Bank of India gave its nod in March to allow a change in ISARC’s sponsor and fresh equity infusion by M/s Authum Investment and Infrastructure Limited, which will now take over PNB’s shareholding. ISARC was initially promoted by SIDBI, Bank of Baroda, PNB, and SIDBI Venture Capital to revive distressed SME assets. For FY24, ISARC posted an income of ₹18.08 crore and a profit after tax of ₹9.37 crore, with assets valued at ₹130.11 crore. PNB clarified that the transaction is neither a related-party deal nor a slump sale. On Tuesday, PNB shares closed at ₹97.65 on the BSE, up by 1.93%.

What's Hot

Prime Video to Introduce Ads from June 17, Offers Ad-Free Plan at Rs 699

PNB Sells ₹34 Crore Stake in ISARC to Sharpen Focus on Core Banking

Tata Steel’s $2.5-Billion Bold Boost Sparks European Revival

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: Sells Stake

PNB Sells ₹34 Crore Stake in ISARC to Sharpen Focus on Core Banking

Prime Video to Introduce Ads from June 17, Offers Ad-Free Plan at Rs 699

PNB Sells ₹34 Crore Stake in ISARC to Sharpen Focus on Core Banking

Tata Steel’s $2.5-Billion Bold Boost Sparks European Revival

Birla’s Bold Bet in Paints Hits Asian Paints Hard

Our Picks

Prime Video to Introduce Ads from June 17, Offers Ad-Free Plan at Rs 699

PNB Sells ₹34 Crore Stake in ISARC to Sharpen Focus on Core Banking

Tata Steel’s $2.5-Billion Bold Boost Sparks European Revival

Most Popular

Prime Video to Introduce Ads from June 17, Offers Ad-Free Plan at Rs 699

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: Sells Stake