In March, the Reserve Financial institution of India had granted approval for change in sponsor of the asset reconstruction firm and fairness increase from Authum Funding and Infrastructure Ltd, PNB stated in a regulatory submitting.
The financial institution has accomplished the sale of a 20.90 per cent stake on Tuesday, it stated.
It offered 2.09 crore shares of the asset reconstruction firm for Rs 16.29 per share, aggregating Rs 34.04 crore.
The financial institution had entered right into a definitive settlement to promote its whole stake in ISARC in Might.
For the monetary yr ended March 31, 2025, ISARC had earned a web revenue of Rs 19.79 crore with a complete earnings of Rs 36.4 crore. Previous to stake sale, ISARC was sponsored by SIDBI, Financial institution of Baroda, Punjab Nationwide Financial institution, and SIDBI Enterprise Capital Ltd.
