Shares of PNB Housing Finance surged 7.3% to ₹1,083.60 in Friday’s early trade after a large block deal took place as the market opened. Approximately 4.19% worth Rs 1732.03 crore of the company’s equity exchanged hands during the pre-market block window, today.
According to CNBC-TV18, Carlyle Group’s affiliate Quality Investment Holdings PCC sold its entire 10.44% stake in the company through block deals.
The stake sale involved 27.1 million shares with a total deal size of ₹2,604 crore. The floor price was set at ₹960 per share, representing a 5% discount to PNB Housing’s April 30 closing price of ₹1,010.20 on the NSE.
This transaction marks Carlyle’s complete exit from PNB Housing, nearly a decade after its initial ₹1,600 crore investment for a 49% stake in 2015. Over the years, Carlyle steadily pared down its holdings, trimming it to 32.68% post-IPO in 2016, then selling 12.8% in July 2024 for ₹2,578 crore and another 9.43% in November 2024 for ₹2,300 crore. With today’s sale, Carlyle’s estimated return on investment stands at a strong 367% in rupee terms.
IIFL Capital Services acted as the sole bookrunner and placement agent for the fully secondary transaction.
