PNB Finance & Industries Unlisted Shares
PNB Finance and Industries Limited is a Delhi based non-banking finance company that holds a large portfolio of equity and debt investments through itself and two wholly owned subsidiaries. Consolidated total assets were ₹3,81,508.17 lakh at 31 March 2025.
Read the full company profile
Key facts
PNB Finance & Industries share details
- Lot size
- 10 shares
- Min. investment
- ₹88,000
- Face value
- ₹10
- Implied market cap
- ₹2,816 Cr
- Shares outstanding
- 3,200,000
- Headquarters
- New Delhi
- Website
- pnbfinanceandindustries.com
- ISIN
- INE057F01011
- CIN
- L65929DL1947PLC001240
- Lock-in after IPO
- 6 months
Price history
PNB Finance & Industries share price chart
1Y change
-23.48%
High
₹11,500
Low
₹8,800
Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.
About
About PNB Finance & Industries
PNB Finance and Industries Limited is a Delhi based non-banking financial company (NBFC) registered with the RBI. Its registered office is at Express Building, Bahadur Shah Zafar Marg, New Delhi. It is not a lender in the usual sense. Its annual report says the business is mainly holding investments in mutual funds, an alternative investment fund, listed and unlisted equity shares, bonds, NCDs and fixed deposits.
The company has two wholly owned subsidiaries, Esoterica Services Limited and Punjab Mercantile and Traders Limited. On a consolidated basis, total assets were ₹3,81,508.17 lakh at 31 March 2025, against ₹3,33,252.60 lakh a year earlier. Almost all of it, ₹3,79,688.25 lakh, sits in investments. Cash and cash equivalents were just ₹3.09 lakh.
The income is small compared with the asset base. In FY25 consolidated total income was ₹1,051.50 lakh and profit after tax was ₹715.81 lakh, with basic earnings per share of ₹22.37. Revenue from operations was nil in FY25, so the revenue figure on this page is total income, which is mostly dividend income of ₹508.83 lakh, fair value gains of ₹412.26 lakh and interest of ₹127.79 lakh. These are consolidated figures. The company reported that it employed no staff during the year and does not recommend any dividend.
As at 31 March 2025 the company reported no promoter holding. Private bodies corporate held 68.23 per cent of the 32,00,000 equity shares, the Indian public held 28.30 per cent and institutions held 0.32 per cent. The shares are listed only on the Calcutta Stock Exchange, which is not operational. SEBI orders of March 2024 asked certain shareholders to declare themselves promoters until the 25 per cent minimum public shareholding is met.
There is no IPO filing linked to this company on IPO Guru. Unlisted shares of a company like this are dealt off-market between buyers and sellers, so the indicative price of ₹8,800 per share is not an exchange price. At that price and the share count above, the implied market cap on our data is about ₹2,816 crore.
Strengths
- Consolidated total assets rose to ₹3,81,508.17 lakh at 31 March 2025 from ₹3,33,252.60 lakh a year earlier, almost entirely in investments of ₹3,79,688.25 lakh.
- The balance sheet carries no borrowings. The annual report states that the company does not have any borrowings.
- Consolidated profit after tax was ₹715.81 lakh in FY25 with basic EPS of ₹22.37, and it was ₹721.68 lakh in FY24 with EPS of ₹22.55.
- Dividend income from equity instruments was ₹508.83 lakh in FY25 against ₹488.15 lakh in FY24, a steady income stream from its holdings.
- The company has a very lean cost base. Consolidated total expenses were ₹167.54 lakh in FY25 against ₹294.00 lakh in FY24.
- It holds two wholly owned subsidiaries. Esoterica Services Limited alone reported total assets of ₹1,33,199.52 lakh at 31 March 2025.
Risks
- Revenue from operations was nil in FY25 against ₹110.00 lakh in FY24. Income now depends on dividends, interest and fair value gains on investments.
- Total income fell to ₹1,051.50 lakh in FY25 from ₹1,158.25 lakh in FY24, and consolidated profit after tax moved from ₹721.68 lakh to ₹715.81 lakh.
- Net gain on fair value changes of ₹412.26 lakh made up a large part of FY25 income and can swing with market prices.
- Consolidated operating cash flow was negative at ₹167.35 lakh in FY25 and negative at ₹816.70 lakh in FY24, even though the company reported profit.
- The book is concentrated in investments, and the balance sheet carries a deferred tax liability of ₹51,973.66 lakh linked to the fair value of equity and debt holdings.
- SEBI adjudication orders of March 2024 levied a ₹1200 lakh penalty on the company and restrained it from accessing the capital market until minimum public shareholding is reached, per the annual report.
- The company reports no promoter holding, and the shares are listed only on the Calcutta Stock Exchange, so there is no active exchange market for them.
- The company reported no employees during the year, so day to day decisions rest with a small board and manager.
- Unlisted share prices are indicative and traded off-market, so the price of ₹8,800 is a dealer indication and not a confirmed transaction price.
Financials
PNB Finance & Industries financial performance
Revenue, profit and balance-sheet figures by fiscal year.
Revenue & PAT (₹ Cr)
Revenue
PAT
| Metric | FY25Latest | FY24 |
|---|---|---|
| Revenue (₹ Cr) | 10.52 | 11.58 |
| PAT (₹ Cr) | 7.16 | 7.22 |
| PAT Margin (%) | 68.06 | 62.35 |
| EPS (₹) | 22.37 | 22.55 |
| Total Assets (₹ Cr) | 3,815 | 3,333 |
Swipe the table sideways for earlier years →
Leadership
Management team
Rakesh Dhamani
Independent Director
Independent director on the board as per the FY25 annual report.
Saumya Agarwal
Independent Director
Independent director on the board as per the FY25 annual report.
Victor Alan Carvalho
Independent Director
Independent director, appointed with effect from 28 May 2024.
Viveka Nand Jha
Chief Financial Officer
Chief financial officer of the company.
Tarun Verma
Manager
Manager of the company.
Shweta Saxena
Company Secretary
Company secretary of the company.
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PNB Finance & Industries unlisted shares: common questions
Important disclaimer
Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.
