Shares of PNB Housing Finance will be in focus in trade tomorrow, Wednesday, August 21 on the back of a large block deal expected in the stock. According to a report from CNBC-TV18, General Atlantic Singapore Fund FII PTE is expected to sell around 5.1% equity worth Rs 1,032 crore via a block deal in PNB Housing Finance tomorrow.
The CNBC-TV18 report, quoting sources, said that the offer price of the block deal is set at Rs 775 per share, a 4.4% discount to the closing price of PNB Housing Finance shares today. Shares of PNB Housing Finance closed at Rs 810, down 1.4% on the NSE today.
The stake sale via General Atlantic Singapore is a clean out trade and IIFL Securities is the sole broker to the deal.
Earlier this year, Private Equity firm Carlyle had sold over 13% stake in PNB Housing Finance via a block deal on July 30. The block deal was worth Rs 2,362 crore.