Mumbai: Following the withdrawal of Carlyle group from the collective stake sale in PNB Housing Finance, Punjab National Bank on Wednesday invited fresh bids to sell its stake in the housing finance subsidiary, according to a notice.Credit Suisse and PNB Investment Services are advisors to the expression of interest, which calls for partial or complete stake sale by the state-owned lender.
Interest bidders can submit their expressions of interest by Nov 26.On Jul 24, PNB and the Carlyle Group, via Quality Investment Holdings, had invited bids to jointly sell at least 51 per cent of their stake in PNB Housing Finance. PNB held 32.79 per cent stake in the home finance company, while Quality Investment held 32.36 per cent as at the end of September.
However, on Tuesday, PNB Housing Finance notified that partner Carlyle Group has decided to back out from the joint stake sale, and that PNB will independently proceed with the stake sale and look for a buyer.
