Public Sector Lender, Punjab National Bank has announced the Sale of stake in the Associate of the Bank, India SME Asset Reconstruction Company Limited.
The Bank has entered into Supplemental Agreement to the Share Subscription and Purchase-cum Shareholders Agreement.
The Bank has informed the Exchange that it has entered into a definitive agreement ie. Supplemental Agreement to the Share Subscription and Purchase-cum-Shareholders Agreement (SSPSHA) today i.e. 13.05.2025 to sell its entire stake in M/s India SME Asset Reconstruction Company Limited (ISARC), an associate company of the Bank.
The cost of sale agreement is around Rs 34 crore and will be finalized till Q1 of FY 25-26.