PNB Housing Finance's shares see block deals

20 Jun 2024 , 10:36 AM

On Thursday, June 20, as many as 1.36 Crore shares of PNB Housing Finance changed hands in several block deals, representing 5.2% of the company’s ownership.

On Wednesday, June 19, it was announced that Opportunities Fund and General Atlantic were planning to sell their combined 4.2% interest in PNB Housing Finance Ltd.

According to sources, the deal’s floor price is ₹773 per share, which is 8% lower than Wednesday’s closing price.

According to insiders, the sale is estimated to be worth roughly ₹830 Crore, with key investors selling over one Crore shares. They said that there would be a 60-day lock-in period following the share sale. UBS has been appointed as the transaction’s broker.

At the end of the March quarter, Asia Asia Opportunities V held a 9.88% stake in the company, while General Atlantic Singapore Fund held 9.22%.

PNB Housing Finance recorded a 57.3% increase in consolidated net profit to ₹439.3 Crore in the fourth quarter, up from ₹279.3 Crore in the previous year. The consolidated net interest income for the period increased by 7.2% to ₹623.2 Crore, up from ₹581.2 Crore in the previous fiscal quarter.

At around 10.28 AM, PNB Housing Finance was trading 4.18% lower at ₹804.90, against the previous close of ₹840 on NSE. The counter touched an intraday high and low of ₹813.35, and ₹785, respectively.

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