Public sector lender, panjab national bank, or p and b, decided to hive off of its housing finance business. In just ten months after listing, its stock was up by over 75 %. But the future looked rosy for p and b housing finance, until it didn't. Valuations of housing finance companies dropped. Reports emerged that debt plague. P n b needed money and that it was willing to sell its assets for a pittance,. including its tak in p n b housing finance.