PNB seeks bids to sell 10% stake in Asset Reconstruction Co

Punjab National Bank has invited bids to sell its entire 10.01% stake, comprising 32.51 mln shares, in Asset Reconstruction Co (India) Ltd, the PNB Investment Services Ltd said in a notice on its website. Asset Reconstruction Co (India) is sponsored by prominent banks and financial institutions such as Avenue India Resurgence Pte Ltd, State Bank of India, IDBI Bank, ICICI Bank and Punjab National Bank.