Latest news with #ISARC
Time of India
5 days ago
- Business
- Time of India
PNB shares in focus following completion of 21% stake sale in India SME Asset Reconstruction Company
Punjab National Bank (PNB) shares are likely to be in focus on Wednesday, June 18, after the lender announced the completion of its stake sale in India SME Asset Reconstruction Company Limited ( ISARC ). The bank has offloaded its entire 20.90% stake in the associate company for a total cash consideration of Rs 34.05 crore. The stake sale, completed on June 17, involves the transfer of 2.09 crore shares for Rs 16.29 per share. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Collagen is not needed, 42-year-old woman's skin changes URUHIME MOMOKO Learn More Undo The development follows an earlier communication dated May 13, 2025, in which PNB informed the stock exchanges of its definitive agreement to divest its entire stake in ISARC. The Reserve Bank of India (RBI) had approved a change in sponsor and equity ownership from M/s Auhm Investment and Infrastructure. According to disclosures made by the bank, ISARC reported a total income of Rs 36.40 crore and a profit after tax (PAT) of Rs 19.79 crore for the financial year ended March 31, 2025. The company's total assets stood at Rs 150.08 crore, while its capital base was reported at Rs 149.48 crore as of the same date. The agreement for the sale was originally signed on May 13, 2025, and the transaction was completed as scheduled on June 17. Live Events Also read: Pick up defence stocks for long term; 2 shipping stocks to buy: Neeraj Dewan PNB share price history Over the past year, the stock of PNB has declined by 17.84%. On a year-to-date (YTD) basis, it has registered a gain of 3.12%. Over the last 6 months, the stock has remained largely flat with a marginal dip of 0.09%. In the last three months, it has risen by 21.08%, while the one-month performance shows a gain of 7.08%. On Tuesday, the PNB shares closed 0.84% lower at Rs 105.90 on the BSE. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Business Standard
5 days ago
- Business
- Business Standard
PNB exits ISARC with sale of 21% stake for ₹34 crore after RBI approval
In March, the RBI had granted approval for change in sponsor of the asset reconstruction company and equity raise from Authum Investment and Infrastructure Ltd, PNB said in a regulatory filling Press Trust of India New Delhi State-owned Punjab National Bank on Tuesday said it has sold its entire 21 per cent stake in India SME Asset Reconstruction Company Limited (ISARC) for Rs 34 crore. In March, the Reserve Bank of India had granted approval for change in sponsor of the asset reconstruction company and equity raise from Authum Investment and Infrastructure Ltd, PNB said in a regulatory filing. The bank has completed the sale of a 20.90 per cent stake on Tuesday, it said. It sold 2.09 crore shares of the asset reconstruction company for Rs 16.29 per share, aggregating Rs 34.04 crore. The bank had entered into a definitive agreement to sell its entire stake in ISARC in May. For the financial year ended March 31, 2025, ISARC had earned a net profit of Rs 19.79 crore with a total income of Rs 36.4 crore. Prior to stake sale, ISARC was sponsored by SIDBI, Bank of Baroda, Punjab National Bank, and SIDBI Venture Capital Ltd.
Time of India
5 days ago
- Business
- Time of India
PNB sells entire 21% stake in ISARC for Rs 34 crore
State-owned Punjab National Bank on Tuesday said it has sold its entire 21 per cent stake in India SME Asset Reconstruction Company Limited (ISARC) for Rs 34 crore. In March, the Reserve Bank of India had granted approval for change in sponsor of the asset reconstruction company and equity raise from Authum Investment and Infrastructure Ltd, PNB said in a regulatory filing. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Eat 1 Teaspoon Every Night, See What Happens A Week Later [Video] getfittoday Undo The bank has completed the sale of a 20.90 per cent stake on Tuesday, it said. It sold 2.09 crore shares of the asset reconstruction company for Rs 16.29 per share, aggregating Rs 34.04 crore. The bank had entered into a definitive agreement to sell its entire stake in ISARC in May. Live Events For the financial year ended March 31, 2025, ISARC had earned a net profit of Rs 19.79 crore with a total income of Rs 36.4 crore. Prior to stake sale, ISARC was sponsored by SIDBI, Bank of Baroda , Punjab National Bank, and SIDBI Venture Capital Ltd.
News18
5 days ago
- Business
- News18
PNB sells entire 21 pc stake in ISARC for Rs 34 cr
Agency: PTI Last Updated: New Delhi, Jun 17 (PTI) State-owned Punjab National Bank on Tuesday said it has sold its entire 21 per cent stake in India SME Asset Reconstruction Company Limited (ISARC) for Rs 34 crore. In March, the Reserve Bank of India had granted approval for change in sponsor of the asset reconstruction company and equity raise from Authum Investment and Infrastructure Ltd, PNB said in a regulatory filing. The bank has completed the sale of a 20.90 per cent stake on Tuesday, it said. It sold 2.09 crore shares of the asset reconstruction company for Rs 16.29 per share, aggregating Rs 34.04 crore. The bank had entered into a definitive agreement to sell its entire stake in ISARC in May. For the financial year ended March 31, 2025, ISARC had earned a net profit of Rs 19.79 crore with a total income of Rs 36.4 crore. Prior to stake sale, ISARC was sponsored by SIDBI, Bank of Baroda, Punjab National Bank, and SIDBI Venture Capital Ltd. PTI DP DP SHW
Time of India
12-06-2025
- General
- Time of India
Focus on farmers prosperity, UP minister urges agri scientists
1 2 Varanasi: Union minister of state for agriculture and farmers' welfare Ramnath Thakur concluded his two-day visit to Varanasi on Thursday as part of the ongoing Viksit Krishi Sankalp Abhiyan, a nationwide campaign to promote sustainable agricultural practices and advanced technologies. During the concluding function held at Krishi Vigyan Kendra (KVK) in Kallipur, the minister urged agricultural scientists and officials to focus on farmer prosperity by reducing farming costs and working towards the goal of doubling farmers' income. He emphasized the need for communicating the latest agricultural innovations to farmers in a language they understand — directly in their fields. Addressing a gathering of farmers, the minister highlighted that sowing rice during the Rohini Nakshatra is considered auspicious and leads to better crop yields due to favorable climatic conditions. The campaign witnessed active participation from farmers across the region. Sanjay Kumar Singh, Deputy Director General (Horticulture), ICAR, New Delhi, directed officials to act firmly against the use of adulterated seeds and chemicals. He also stressed promoting diversified farming, including fruits, vegetables, pulses, oilseeds, animal husbandry, and fisheries. Colonel Bijendra Singh, Vice Chancellor of Acharya Narendra Dev University of Agriculture and Technology, Ayodhya, highlighted that Uttar Pradesh's agricultural productivity lags behind states like Punjab. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Unfriendliest Countries in the World, Ranked BigGlobalTravel Undo He advised farmers to adopt practices such as timely sowing, field leveling, correct seed rates, and incorporating green manure crops like dhaincha and sunhemp to restore organic matter in soil. Water-saving techniques like sprinkler and drip irrigation and mulching were also recommended. Additionally, beekeeping was encouraged to boost crop yields by 15–20%. As part of the visit, the ICAR-Indian Institute of Vegetable Research (IIVR), in collaboration with the International Rice Research Institute – South Asia Regional Centre (ISARC), organized field visits to demonstrate Direct Seeded Rice (DSR) technology and other climate-smart agricultural innovations. The minister visited the ISARC exhibition stalls, where he was briefed on climate-resilient rice varieties, rice-based nutritional products, and farmer-friendly technologies tailored for small appreciated ISARC's efforts in offering scalable and eco-friendly farming solutions suitable for regional conditions. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
