PNB Housing Finance’s 1.39 Crore shares change hands

21 Aug 2024 , 10:17 AM

On Wednesday, August 21, up to 1.39 Crore shares, or 5% of PNB Housing Finance’s equity, changed hands in a block deal window on the BSE.

On Tuesday, August 20, sources said that General Atlantic Singapore Fund FII Pte Ltd planned to sell its 5.1% share in PNB Housing Finance Ltd in a block sale.

According to sources, the private equity firm plans to sell shares at a floor price of ₹775 a share. This represents a 4.4% discount from the company’s closing price of nearly ₹810 on Tuesday, which fell 1.4% in trade. The 5.1% stake represents a deal of around ₹1,032.7 Crore.

According to Bombay Stock Exchange data, General Atlantic held a 5.13% ownership in the company as of June 30, 2024.

IIFL Capital Services was claimed to be the sole broker for the transaction. The sale would also not be subject to any lock-in period, allowing the shares to be freely exchanged after the transaction.

Prior to this, on June 30, PE firm Carlyle sold over 13% share in PNB Housing Finance in a block deal worth ₹2,642 Crore. In block deals, up to 3.4 Crore shares traded at ₹778 each.

At around 10.07 AM, PNB Housing Finance was trading 7.49% higher at ₹871.65, against the previous close of ₹810.90 on NSE. The counter touched an intraday high and low of ₹894, and ₹826, respectively.

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