News From Press Punjab National Bank gets govt approval to dilute stake in UTI Mutual Fund

Punjab National Bank gets govt approval to dilute stake in UTI Mutual Fund

Source: Mint Nov 25, 2022

State-owned Punjab National Bank (PNB) on Thursday said it has received the government approval to divestment its entire stake in UTI Asset Management Company Limited as part of its non-core asset sale plan to shore up its capital base. The bank, which holds 15.22% stake in UTI AMC, will divestment its entire stake in the mutual fund company in single or multiple tranches for realization of gain on investment. It's current valuation stands at ₹1,329 crore.

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