PNB Housing Finance falls 3% after Rs 715.60 crore block deal; Asia Opportunities V likely seller

PNB Housing Finance

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Shares of PNB Housing Finance fell over 3 percent on August 22 after a block deal worth as much as Rs 715.60 crore took place in the counter, with Asia Opportunities V (Mauritius) being the likely seller in the transaction. Around 81 lakh shares, making up a 3.2 percent stake in the lender changed hands at a floor price of Rs 873 apiece.

While Moneycontrol could not immediately verify the buyers and sellers in the transaction, Bloomberg reported earlier today that Asia Opportunities V (Mauritius) was looking to sell upto 1.29 crore shares of PNB Housing Finance through block deals, aiming to raise $132 million from the sale.

At the end of the June quarter of FY25, Asia Opportunities V (Mauritius) owned a 5.19 percent stake in PNB Housing Finance.

The block deal comes just a day after General Atlantic Singapore also sold a 5.1 percent stake in the non-bank finance lender at an average price of Rs 802.50 per share.

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Several marquee investors, including the likes of the Singapore government, AB Sun Life Mutual Fund, HSBC Mutual Fund, Monetary Authority of Singapore, ICICI Prudential Life Insurance,  and others rushed to take up a pie of PNB Housing Finance.

Last month, PNB Housing Finance saw another major stake sale when equity worth Rs 2,642 crore were sold with the seller being Quality Investment Holdings PCC, a private equity firm under the Carlyle Group.

Approximately 3.4 crore shares, representing a 13.1 percent stake in the housing finance company were traded on the exchanges at an average price of Rs 778 per share. According to the company's June quarter shareholding data, The Carlyle Group held a 32.68 percent stake in the housing finance lender through its affiliate, Quality Investment Holdings PCC.

With PNB Housing Finance seeing a flurry of big stake sales which has resulted in the exit and entry of several institutional investors, the company's revised shareholding is likely to witness and upheval.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.