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Punjab National Bank (PNB) has sold 3.3 per cent stake in rating agency ICRA for about ₹109 crore. The stake sale was done through a block deal on Thursday. The average price at which shares were offloaded stood at ₹3,291 a share.
The 3.3 per cent stake (3.3 lakh shares) was bought by IIFL Management Services. It may be recalled that PNB is looking to divest stake in non-core assets such as PNB Housing Finance and waiting for right market conditions for the transactions.
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