Block trade for 1.39 crore shares

Business Business: Shares of PNB Housing Finance Limited rose. Shares of PNB Housing Finance rose more than 10 per cent to Rs 893.60 on Wednesday. The deal to block 1.39 crore shares of PNB Housing Finance has been completed. This is equivalent to a 5% stake in the housing finance company. A private investor selling the stake may be General Atlantic Singapore Fund. At present, the parties involved in the transaction have not been identified.

Citing sources, CNBC-TV18 said in its report that General Atlantic Singapore Fund will sell 5.1% stake in PNB Housing Finance Limited under a package deal. Sources said the private equity firm will sell shares at a minimum price of Rs 775 per share, which is 4.4 per cent lower than Tuesday’s closing price of around Rs 810. According to this, the total deal size is around Rs 1,032.7 crore. According to the Bombay Stock Exchange, General Atlantic holds 5.13% stake in PNB Housing Finance. These dates are valid till June 30, 2024.

Earlier on June 30, private equity giant Carlyle also sold over 13% stake in PNB Housing Finance in a package deal. The deal was worth Rs 2,642 crore. The deal included shares worth Rs 3.4 crore.

Shares of PNB Housing Finance Limited have risen over 45% in the last 5 months. The housing finance company’s shares were priced at Rs 613.35 on March 20, 2024. PNB Housing Finance shares reached Rs 893.60 on August 21, 2024. The 52-week high of PNB Housing Finance stock is Rs 913.95. At the same time, the 52-week low of the stock is Rs 600.40.