NYLIM Jacob Ballas India, a vehicle co-owned by New York Life Insurance Company and private equity advisory firm Jacob Ballas Capital India, has partially exited its stake in India-based infrastructure construction company PNC Infratech via an initial public offering (IPO) on the Bombay Stock Exchange and National Stock Exchange. Jacob Ballas sold 1.4 million shares at an issue price of INR378 (approximately US$5.92), returning INR537 million (approximately US$8.4 million). Post-transaction, Jacob Ballas holds an 8.3 percent stake in the company.