On July 30, PNB Housing Finance experienced a significant transaction, with shares worth Rs 2,642 crore being traded through a block deal on the stock market. The Carlyle Group, via its affiliate Quality Investment Holdings PCC, is believed to be the primary seller in this deal.
It offloaded a total of 3.40 crore equity shares, amounting to approximately 13.1 percent of PNB Housing Finance’s total shareholding, for an average price of Rs 778 a share. The price is at a minor discount to the previous closing price of Rs 794.90. Though buyers could not be immediately ascertained, reports from CNBV-TV18 earlier said that Carlyle Group would offload up to 12.8 percent, potentially raising Rs 2,511 crore.
As of the last reporting period, the Carlyle Group held a 32.68 percent stake in PNB Housing Finance through Quality Investment Holdings PCC. The latest sale is the second one this May, following other major shareholders such as the Asia Opportunities V Mauritius Fund and General Atlantic Singapore Fund FDI, which sold a combined stake of 2.68 percent.
PNB Housing Finance recently announced excellent results for the April-June quarter, wherein net profit surged 25 per cent to Rs 433 crore. Gross NPAs also came down drastically to 1.35 per cent from 3.76 per cent a year ago, while net NPAs reduced to 0.92 per cent from 2.59 per cent.
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Source: Moneycontrol
News Desk
