New Delhi, Oct 22, 2025 — Punjab National Bank (PNB) has officially announced the divestment of a 10% stake in its associate company, Canara HSBC Life Insurance Company Limited, through an Offer for Sale (OFS) in the firm’s Initial Public Offering (IPO). This strategic move reduces PNB’s holding from 23% to 13%, marking a significant shift in its investment portfolio.

According to the disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the sale was completed on October 17, 2025, and fetched a cash consideration of Rs 1,007 crore. The sale involved 9.5 crore shares at Rs 106 per share, sold to public investors via the IPO route.

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