Private equity firm Carlyle is likely to sell up to 5 percent stake in PNB Housing Finance through block deals, CNBC-Awaaz reported on July 29 citing sources.
Carlyle is looking to sell shares worth Rs 1,000 crore and the base price is likely to be in the range of Rs 750-760 per share, the channel reported. At the upper end of the price band, the discount is of 4.5 percent as compared to the last traded price on Monday, July 29.
IIFL is likely to be the broker for the deals.
Shares of PNB Housing Finance are largely muted on a YTD basis, higher by only 1.14 percent, while compared to last one year, it is up 25 percent. The share price is 13 percent away from its 52-week high of Rs 913.70.
The latest shareholding pattern for the June quarter has shown that the promoter holding has remains unchanged at 28.13 percent, however, mutual funds have increased their holdings in the stock from 3.37 percent to 5.86 percent in June quarter. FII and FPIs have lowered their holdings in the company from 25 percent to 17.89 percent in the June quarter.
You can track PNB Housing's June quarter results here.
Over the past year or so, PNB Housing has transformed its business model toward Retail, and reduced its corporate loan book as percentage of its AUM. It now aims to scale up affordable housing disbursements in its total retail disbursements over the medium term.
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