Country's leading public sector lender, Punjab National Bank (PNB) is set to sell its 26 per cent stakes in PNB Housing Finance Ltd. (PNBHFL) under a definitive agreement to M/s. Destimoney Enterprises Pvt. Ltd.

The current transaction stands at Rs 791.7 million according to sources concerned with the development.

M/s. Destimoney Enterprises Pvt. Ltd is also entitled to extend its shareholdings in PNBHFL up to 49% to enhance its stakes in the firm.

Punjab National Bank has wide exposure in India besides having some foreign branches. The bank is looking for further enhancing its presence in India by opening new branches and network of new ATMs across the nation.

Stocks of the Public sector lender declined 0.61% to close at Rs. 933.30 after touching an intraday high of Rs. 938.40 and low of Rs. 925 on the Bombay Stock Exchange (BSE).