Punjab National Bank finds no takers for PNB Gilts

Lack of buyer leaves PNB to acquire PNB Gilts as an option.

PNB for some time has been looking for a buyer for PNB Gilts but couldn't find one. The bank had to put off its plan to sell its stake in PNB Gilts, as it got poor response from bidders, according to a report in Financial Express.

Speaking to FE, KR Kamath, chairman and managing director of the bank, confirmed the development. "Yes, we are looking at the merger of the arm as one of the options," he said.

However, Kamath maintained that it was in a quite preliminary stage as it was yet to be approved by the boards of both companies- PNB Gilts and PNB. Kamath refused to divulge any further details on the plea that it will be too early to say anything further.

Again, as the matter is in the court and the court has to clear it first before beginning any process in that direction, added Kamath.

PNB holds 74 percent stake in PNB Gilts. The public share holding of PNB Gilts is at around 25.93 percent.

Follow the link for more news on

Also Read

Asian investor sentiment index inched higher to 16pts in 4Q13

China's M&A deal values hit record high of US$260b in 2013

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit