Block Deal Alert: PNB Housing Finance shareholders may sell 4.2% stake worth Rs 830 crore: Report

Two major shareholders of PNB Housing Finance Ltd. have offered about 10.8 million shares, representing a 4.2 percent stake, worth Rs 830 crore via a block deal, according to CNBC Awaaz.

Asia Opportunities V (Mauritius) Ltd. and General Atlantic Singapore Fund FII Pte are each selling about 5.4 million shares. The floor price for the deal has been set at Rs 773 per share, which is an 8 percent discount to the last closing price of Rs 840.


BNP and UBS are acting as joint placement agents for the transaction. On June 19, shares of PNB Housing closed 2.58 percent lower at Rs 841.65 apiece on the BSE.

Earlier, on May 29, a 2.7 percent equity stake in PNB Housing Finance changed hands in block deals.

PNB Housing Finance recently reported a significant 57.3 percent increase in consolidated net profit to Rs 439.3 crore for the fourth quarter, compared to Rs 279.3 crore in the same period last year. The company’s consolidated net interest income also rose by 7.2 percent to Rs 623.2 crore from Rs 581.2 crore in the corresponding quarter of the previous fiscal year.

As of the March quarter, Asia Opportunities V held a total of 9.88 percent in the company, while General Atlantic Singapore Fund Pte had a 9.92 percent stake.