PNB Finance Unlisted Shares

Important — This Is NOT Punjab National Bank

PNB Finance and Industries Limited has no connection to Punjab National Bank. It is an investment holding company historically associated with the promoter family behind Bennett, Coleman & Co. (The Times Group).

Do not confuse the two. Call +91-8882245112 if you need clarification before transacting.

Key Takeaways

• PNB Finance and Industries Limited is an investment and holding company whose earnings come almost entirely from its investment portfolio, not from an operating business.
• The financials are extraordinary because of what it is: FY2019 revenue of ₹1,842.22 lakhs with PAT of ₹1,600.82 lakhs — a net profit margin of 87% and operating margin of 97%.
• EPS of ₹50.03 (FY2019) on a ₹10 face value, with net worth of ₹13,373.85 lakhs and RONW of 12%.
• Only 32 lakh shares outstanding — an extremely tight share count that makes each share represent a substantial slice of the portfolio.
• Shareholding is concentrated in the Times Group family orbit: Artee Viniyoga 25.05%, Ashoka Viniyoga 20.37%, Camac Commercial Company 16.25%, Samir Jain 16.21%, Meera Jain 6.13%, Combine Holding 5.05%, Indu Jain 2.43%.
• Portfolio includes HDFC Bank Ltd among its quoted investments.

Company Overview & Fundamentals

Shareholding Pattern (as on 31 March 2019)

Read this table carefully — it tells you the whole story. Roughly 91% of the company is held by seven entities and individuals within a single family orbit. The Jain family (Samir, Meera, Indu) are the promoter family behind Bennett, Coleman & Co. — publisher of The Times of India. Camac Commercial Company Limited holding 16.25% links this company directly to another entity in your unlisted catalogue. See our Camac Commercial page →

Financial Performance — 4-Year Record

(Figures in ₹ Lakhs)

Reading These Numbers Like an Analyst

1. The margins are not a mistake — they are what a holding company looks like. Operating margins of 88–97% and net margins of 82–87% occur because revenue is investment income — dividends, interest and gains. There is almost no cost of goods, no factory, no salesforce. Nearly everything earned drops to profit.

2. Net worth compounded steadily: ₹10,111.56 lakhs (2016) → ₹13,373.85 lakhs (2019) — roughly 32% growth in three years, driven by retained earnings and portfolio appreciation.

3. FY2017 was the weak year — revenue fell to ₹688.05 lakhs and EPS to ₹17.89 with RONW of just 5%. This is normal for an investment company: dividend receipts and realised gains are lumpy year to year. Do not read a single weak year as deterioration.

4. The 32 lakh share count is critical. With net worth of ₹13,373.85 lakhs across only 32 lakh shares, book value works out to roughly ₹418 per share on the FY2019 figures. Compare that against the OTC price to establish your discount.

5. The portfolio holds HDFC Bank among quoted investments — meaning part of the underlying value can be marked to market daily.

How to Value This Share

The FY2019 net worth of ₹13,373.85 lakhs across 32 lakh shares gives a book value of roughly ₹418 per share — but book value understates reality if long-held quoted investments are carried at cost. Request the current investment schedule from Arms Securities at +91-8882245112.

Why Investors Buy PNB Finance Unlisted Shares

1. Consistently high profitability — 82–87% net margins across four years
2. Compounding net worth — up 32% over three years to ₹13,373.85 lakhs
3. Tiny share count (32 lakh) — each share represents a meaningful slice of the portfolio
4. Quoted holdings including HDFC Bank — part of the NAV is transparently valuable
5. Deep-value potential — long-held investments may sit at historical cost far below market value
6. Times Group family association — a promoter group of substantial standing
7. Steady RONW — 11–16% in normal years

Risks to Consider — Read Carefully

1. Holding-company discounts can persist indefinitely. With no announced restructuring or listing, there is no mechanism forcing value realisation.
2. ~91% is held by seven related entities and individuals. Free float is minimal, liquidity is extremely thin, and minority shareholders have no influence.
3. Earnings are lumpy. FY2017 revenue fell to ₹688.05 lakhs from ₹1,864.11 lakhs — a 63% drop — purely on portfolio timing. Expect volatility.
4. You cannot value it without the investment schedule. Do not invest without obtaining the latest annual report.
5. Portfolio concentration risk — if a large holding falls, NAV falls with it.
6. Tax leakage — dividends flowing through layered entities can face tax at multiple levels.
7. No IPO announced — assume an indefinite horizon.
8. Figures shown are from FY2019 disclosures.Request current financials before investing.

How to Buy or Sell from Arms Securities

Call/WhatsApp +91-8882245112 → request the latest annual report and investment schedule → confirm price and lot → share CMR → pay via NEFT/RTGS → shares credited in 24–48 hours.

Holding PNB Finance shares — including physical certificates or inherited holdings? We buy, and we handle transmission and dematerialisation. Call with your details.

FAQs

Is PNB Finance related to Punjab National Bank?

No. PNB Finance and Industries Limited is an investment and holding company with no connection to Punjab National Bank. It is historically associated with the promoter family behind Bennett, Coleman & Co. (The Times Group).

What is the current price of PNB Finance unlisted shares?

Liquidity is very thin given the concentrated shareholding. Call +91-8882245112 for the current position and available quantity.

Is PNB Finance profitable?

Highly. In FY2019 it reported revenue of ₹1,842.22 lakhs with PAT of ₹1,600.82 lakhs — a net profit margin of 87% and operating margin of 97%, giving EPS of ₹50.03 on ₹10 face value, net worth of ₹13,373.85 lakhs and RONW of 12%. Margins are high because revenue consists of investment income with almost no associated cost.

Who owns PNB Finance and Industries?

As on 31 March 2019: Artee Viniyoga Limited 25.05%, Ashoka Viniyoga Limited 20.37%, Camac Commercial Company Limited 16.25%, Samir Jain 16.21%, Meera Jain 6.13%, Combine Holding Limited 5.05%, Indu Jain 2.43%, with small holdings by Shri Parasram Holdings (0.68%) and State Bank of India (0.63%).

What does PNB Finance hold?

It holds a portfolio of quoted and unquoted investments, including HDFC Bank Ltd among its quoted holdings. Request the full investment schedule from Arms Securities before investing — this is essential to valuing the share.

Why did FY2017 results fall so sharply?

Revenue fell from ₹1,864.11 lakhs (2016) to ₹688.05 lakhs (2017), with EPS dropping to ₹17.89 and RONW to 5%. This is normal for an investment holding company, where dividend receipts and realised gains are lumpy year to year. Revenue recovered to ₹1,538.55 lakhs in 2018 and ₹1,842.22 lakhs in 2019.

Also Read: Camac Commercial Company Unlisted Shares | Bharat Nidhi Limited Unlisted Shares

+91-8882245112 | contact@armssecurities.com

Entity Summary, Analysis & FAQ

Entity Summary + Quick Answers

PNB Finance and Industries at a glance

Is PNB Finance related to Punjab National Bank?

No. PNB Finance and Industries Limited is an investment and holding company with no connection to Punjab National Bank. It is historically associated with the promoter family behind Bennett, Coleman & Co. (The Times Group).

Why are the margins so high?

Because revenue is investment income — dividends, interest and gains — with almost no associated cost. Operating margins of 88–97% and net margins of 82–87% are what a holding company looks like, not an anomaly.

The Book Value Calculation Every Buyer Should Do

FY2019 net worth: ₹13,373.85 lakhs. Shares outstanding: 32 lakh.

₹13,373.85 lakhs ÷ 32 lakh shares = approximately ₹418 book value per share.

But that book value almost certainly understates reality. Long-held quoted investments — including HDFC Bank — may be carried at historical cost rather than market value. A holding acquired decades ago at a fraction of today’s price would sit on the books at that old figure.

This is why the investment schedule matters more than the balance sheet headline.

What to request from Arms Securities before buying

1. The latest annual report
2. The full schedule of investments — every company, every share count
3. Current market value of quoted holdings versus book value
4. Liabilities at the PNB Finance level
5. The current share count (confirm still 32 lakh)

 Call +91-8882245112 and we obtain these for you.

Reading the Lumpy Earnings

FY2017 looks alarming until you understand the business. Revenue fell 63% — but this is normal for an investment holding company, where dividend receipts and realised gains arrive unevenly year to year. Revenue recovered fully by 2019.

Do not judge a holding company on a single year. Judge it on net worth compounding: ₹10,111.56 lakhs (2016) → ₹13,373.85 lakhs (2019), roughly 32% growth in three years.

FAQ

Who exactly owns PNB Finance?

As on 31 March 2019: Artee Viniyoga Limited 25.05%, Ashoka Viniyoga Limited 20.37%, Camac Commercial Company Limited 16.25%, Samir Jain 16.21%, Meera Jain 6.13%, Combine Holding Limited 5.05%, Indu Jain 2.43%, plus Shri Parasram Holdings (0.68%) and State Bank of India (0.63%). Approximately 91% sits with seven related entities and individuals.

What does that concentration mean for me as a buyer?

Free float is minimal, liquidity is thin, and minority shareholders have no influence over whether or when value is realised. Size your position accordingly.

Why is the share price so high?

Because only 32 lakh shares exist against a net worth of ₹13,373.85 lakhs. A tiny share count means each share represents a large slice of the portfolio. High per-share price does not mean expensive — compare price against NAV per share, not against other companies’ prices.

Can I sell PNB Finance shares?

Yes. Arms Securities buys, including physical certificates and inherited holdings requiring transmission. Call +91-8882245112.

Is there an IPO planned?

No. Assume an indefinite horizon with very limited OTC liquidity.

Related Companies & Guides

The connected holding-company cluster — read all three together: - Camac Commercial Company — holds 16.25% of PNB Finance - Bharat Nidhi Limited — established 1942 as Bharat Bank, same promoter orbit - Spencer & Company Limited — incorporated 1897, real-estate-driven holding

Other holding companies: - Inox Leasing & Finance - Digvijay Finlease - Utkarsh CoreInvest — underlying bank is listed

Guides: - Unquoted Shares India - Physical Share Certificate Assistance - Tax on Unlisted Shares

How to Buy PNB Finance Unlisted Shares — Complete Process

Buying PNB Finance unlisted shares takes 24–48 hours from first call to shares landing in your demat account. Arms Securities has executed off-market transfers since 1990 — we are among the founder members of India’s unquoted stock market.

Step 1 — Get today’s live buy price

Call or WhatsApp +91-8882245112 or email contact@armssecurities.com with the company name (PNB Finance) and the quantity or investment amount you have in mind. We reply with today’s confirmed buy price, available quantity and minimum lot size.

Unlisted share prices are not exchange-quoted — they move with OTC supply and demand — so a live quote matters more than any published figure.

Step 2 — Confirm the deal terms

We lock in the price per share, total quantity and consideration, settlement timeline (typically T+1 to T+2) and applicable stamp duty (0.015% on off-market transfers). Nothing moves until you confirm in writing on WhatsApp or email.

Step 3 — Share your demat details

Send your Client Master Report (CMR) — a one-page PDF from your broker’s app or Depository Participant containing your DP ID, Client ID, beneficiary name, depository (NSDL or CDSL) and PAN.

You do not need a special account. PNB Finance shares are credited to your existing demat account — the same one you use for listed shares.

Step 4 — Transfer payment

Pay by NEFT, RTGS or IMPS to Arms Securities’ verified bank account. We share full details in writing with the deal confirmation. Never pay to an account shared verbally or by an unverified number — always confirm on +91-8882245112.

Step 5 — Receive shares in your demat account

We initiate the off-market transfer through NSDL or CDSL. Shares are credited within 24–48 hours of payment confirmation. You receive SMS and email from the depository, and the holding appears in your regular demat statement.

Documents required to buy PNB Finance shares

Everything can be submitted digitally on WhatsApp or email. No physical paperwork, no courier, no branch visit.

Minimum investment in PNB Finance shares

Minimum investment depends on the prevailing price and the minimum lot available at that moment — both change. Call +91-8882245112 for today’s exact minimum. For allocations above ₹10 lakh, see our bulk unlisted share transactions service.

Is it legal and safe to buy PNB Finance unlisted shares?

Yes — trading in unlisted shares is completely legal in India.

One caution: SEBI has warned investors against unauthorised electronic platforms offering unlisted securities. Deal only with established intermediaries who settle through the depository system and who you can speak to on a phone number.

 Buy PNB Finance shares — call/WhatsApp +91-8882245112

Related: buy unlisted shares in India • off-market share transfer • our transfer procedure • how to buy unlisted shares — step-by-step guide

Sell Your PNB Finance Unlisted Shares — We Buy

Arms Securities buys PNB Finance unlisted shares. If you hold them and want to exit, we provide a firm bid, handle the entire transfer, and pay by NEFT/RTGS within 24 hours of receiving the shares.

We buy in every format

Why sellers come to Arms Securities

Most brokers cannot help you. Your regular stockbroker can only trade listed shares on the exchange. Unlisted shares have no exchange — you need a dealer with an actual buyer network.

We have been that dealer since 1990. We are among the founder members of India’s unquoted stock market, we deal in physical certificates that most modern platforms refuse to touch, and we maintain a standing book of HNI and institutional buyers across 15+ states.

How to sell PNB Finance shares — step by step

Step 1 — Tell us what you hold. Call/WhatsApp +91-8882245112 with the company name, quantity, and whether your shares are in demat or physical form.

Step 2 — Receive our bid. We quote a firm buy price based on current OTC demand. No obligation.

Step 3 — Submit documents.

For demat holdings: Demat account statement / Client Master Report • PAN card copy • Cancelled cheque • Delivery Instruction Slip (DIS)

For physical certificates: Original share certificates • PAN card copy • Address proof • Cancelled cheque • Transfer deed (Form SH-4) • If inherited: death certificate, succession certificate or legal heir documents

Step 4 — Transfer the shares. Demat: Submit a DIS to your DP transferring shares to Arms Securities — A/C 11323830, DP ID IN302365, DP: Shri Parasram Holdings Pvt. Ltd. You can also execute online via CDSL Easiest or NSDL Speed-e. Physical: Courier the certificates with signed transfer deed. We guide you through the exact process.

Step 5 — Receive payment. On confirmation of share receipt, we release payment by NEFT or RTGS — typically within 24 hours.

Selling inherited or old PNB Finance share certificates

This is our specialism, and very few dealers in India offer it.

If you have found old PNB Finance share certificates among family papers — perhaps belonging to a parent or grandparent — you likely have a valid, transferable asset.

1. Do not discard them. Old certificates frequently retain real value.
2. Photograph them and send to +91-8882245112. We verify authenticity and current status at no cost.
3. We check the company’s position — active, merged, renamed, delisted or dissolved — and tell you honestly what your holding represents today.
4. If the shares have value, we quote and buy. If not, we explain the position and the capital-loss tax set-off available to you.

Full physical share certificate guide →

Tax when you sell PNB Finance unlisted shares

• No STT (Securities Transaction Tax) applies to unlisted share transactions
• Stamp duty of 0.015% applies on off-market transfers, collected by the depository
• For inherited shares, the holding period includes the original owner’s period — often making gains long-term automatically
• For NRIs, TDS provisions apply; we guide on documentation

If the shares later list, post-listing tax treatment changes to listed-share rules (12-month LTCG threshold), with the holding period counted from your original purchase date.

 Complete tax guide on unlisted shares • Capital gains tax on unlisted shares

Consult a Chartered Accountant for your specific situation.

 Sell your PNB Finance shares — call/WhatsApp +91-8882245112 for a firm bid

Related: sell unlisted shares in India • physical & demat share assistance

Trust & Contact

Why Buy and Sell PNB Finance Shares Through Arms Securities?

Our pre-IPO track record

Arms Securities identified and supplied pre-IPO shares in companies that became genuine multibaggers for our clients:

DLF • D-Mart (Avenue Supermarts) • Nazara Technologies • LUX Industries • ISGEC Heavy Engineering • L&T Infotech (now LTIMindtree)

 The full 35-year Arms Securities story • Arms Securities vs UnlistedZone • ⭐ Client success stories

Contact:  +91-8882245112 (Call/WhatsApp) • +91-9899131155 • +91-11-47000023  contact@armssecurities.com •  www.armssecurities.com Mon–Fri 9:30–18:00 • Sat 10:00–14:00

Related guides: What are unlisted shares in India • Best unlisted shares to buy in 2026 • Full unlisted share price list • Unlisted shares FAQ • Contact Arms Securities