PNB  looking to sell  stake  in NCDEX, Pridhvi ARC

Punjab National Bank (PNB) is looking to sell its stake in Pridhvi Asset Reconstruction and Securitisation Co Ltd and National Commodity & Derivatives Exchange Ltd, or NCDEX, to free up capital to expand lending. While PNB owns 10% in Pridhvi ARC, its stake in NCDEX is at 7.29%. The lender wants to hire legal advisers and other intermediaries to prepare the required documents and to manage the divestment process.