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Elpro International has agreed to sell approximately 1.33 per cent shareholding in PNB MetLife India Insurance Company for a total consideration of ₹134.22 crore. The decision is subject to satisfaction of certain conditions, including approval from the Insurance Regulatory and Development Authority of India and the Competition Commission of India. Elpro International has been holding 12.75 per cent stake in PNB MetLife Insurance since 2003.
Shares of Elpro International surged 6.46 per cent at ₹66.75 on the BSE.
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