Punjab National Bank (PNB) has divested a portion of its stake in Canara HSBC Life Insurance Company Limited, an associate company. Through an Offer for Sale in the Initial Public Offer (IPO), PNB reduced its holding from 23% to 13%. The transaction details were submitted in accordance with regulatory guidelines.
Stake Reduction in Insurance Firm
Punjab National Bank (PNB) has announced the sale of a portion of its stake in Canara HSBC Life Insurance Company Limited. The transaction was executed through an Offer for Sale (OFS) as part of the insurance company’s Initial Public Offer (IPO).
Details of the Divestment
PNB reduced its stake in Canara HSBC Life Insurance from 23% to 13% through the OFS. The bank submitted the information as per regulatory requirements. This strategic move allows PNB to rebalance its investment portfolio.
Financial Performance (FY 24-25)
The following are key financial figures related to the associate company:
Net Worth
1516.90 Crores
Income
10,725.90 Crores
Expenses
10,597.80 Crores
Profit Before Tax (PBT)
128.10 Crores
Profit After Tax (PAT)
117.00 Crores
Transaction Details
The stake, representing 10% of the company, was sold through the IPO route on October 17, 2025. The cash consideration received by PNB was ₹10,07,00,00,000 (₹106 per share for 9,50,00,000 shares). The buyers are public investors, as the sale was conducted through a public offering.
Source: BSE
