 "PNB Housing rises 6% as PNB, Carlyle Group plan to offload 51% stake")
Shares of PNB Housing Finance were up by 6% at Rs 1,269 per share on Wednesday in intra-day trade, extending their 2% rise in the previous day on the BSE, after the company said that Punjab National Bank (PNB) and the Carlyle Group proposed to sell their stake to the potential acquirers.
“We hereby inform you regarding joint communication received today from Punjab National Bank (PNB) and Quality Investment Holdings (The Carlyle Group) regarding sale of minimum 51 % stake in PNB Housing Finance Limited to the potential acquirers,” PNB Housing Finance said on Tuesday after market hours.
As on date, PNB owns 32.79% and Quality Investment Holdings owns 32.36% of the paid up equity share capital of the Company. The Board of Directors of the Company has been apprised about the same, it added.
Earlier, on May 8, Quality Investment Holdings, an arm of the global private equity giant Carlyle, had sold 8 million shares of PNB Housing Finance, translating into about 4.8% of its equity, for around Rs 10.24 billion through block deals. The Carlyle Group sold shares at an average price of Rs 1,280 per share, data shows.
“We hereby inform you regarding joint communication received today from Punjab National Bank (PNB) and Quality Investment Holdings (The Carlyle Group) regarding sale of minimum 51 % stake in PNB Housing Finance Limited to the potential acquirers,” PNB Housing Finance said on Tuesday after market hours.
As on date, PNB owns 32.79% and Quality Investment Holdings owns 32.36% of the paid up equity share capital of the Company. The Board of Directors of the Company has been apprised about the same, it added.
Earlier, on May 8, Quality Investment Holdings, an arm of the global private equity giant Carlyle, had sold 8 million shares of PNB Housing Finance, translating into about 4.8% of its equity, for around Rs 10.24 billion through block deals. The Carlyle Group sold shares at an average price of Rs 1,280 per share, data shows.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%