General Atlantic Singapore Fund FII has sold a 5.1% stake in PNB Housing Finance through block deals. The transaction was executed at an average price of Rs 802.50 per share, marking a significant shift in the shareholding structure of the company.
In a subsequent statement, PNB Housing Finance disclosed that the Singapore government has acquired a 1.40% stake in the company, amounting to 36.45 lakh shares, at the same price of Rs 802.50 per share. This purchase highlights continued international interest in the company.
Several other key institutional investors also participated in the buying spree. AB Sun Life Mutual Fund acquired a 0.72% stake, equivalent to 18.60 lakh shares, at Rs 802.50 per share. HSBC Mutual Fund purchased a 0.31% stake, totaling 8.09 lakh shares, at the same price.
Further, the Monetary Authority of Singapore bought a 0.30% stake, representing 7.78 lakh shares, while ICICI Prudential Life Insurance acquired a 0.24% stake, or 6.23 lakh shares, both at Rs 802.50 per share. Additionally, Fidelity Funds–Asian Smaller Companies Pool secured a 0.20% stake in the company, buying 5.24 lakh shares at the same price.
Last month, PNB Housing Finance shares worth a total of Rs 2,642 crore were sold through a block deal on the exchanges, with private equity firm Carlyle Group's Quality Investment Holdings PCC being the seller.
As much as 3.4 crore shares, representing a 13.1 percent stake in the housing finance company changed hands on the exchanges at an average price of Rs 778 apiece.
The Carlyle Group held a 32.68 percent stake in the housing finance lender through its affiliate Quality Investment Holdings PCC, as per the company's June quarter shareholding data.
Last month, PNB Housing Finance reported a near 25 percent rise in first-quarter profit.
The company’s consolidated net profit rose to Rs 433 crore for the quarter ended June 30, up from Rs 347 crore a year earlier.
PNB Housing, a unit of state-run lender Punjab National Bank, said its total disbursements rose 19 percent to Rs 4,398 crore.
Net interest income, the difference between interest earned and paid, rose 4 percent to Rs 651 crore.
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