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Sebi exempts government from PNB open offer; directs reducing non-public holding post capital infusion

Updated : March 27, 2019 09:48 PM IST

In February, Punjab National Bank filed an application on behalf of the central government seeking exemption from open offer requirement under takeover regulations.
After capital infusion in lieu of preferential allotment of over 80.2 crore shares, the government's stake in the bank would rise by 5.19 percent to 75.41 percent.
Sebi exempts government from PNB open offer; directs reducing non-public holding post capital infusion

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