PNB Housing Finance likely to see block deal worth Rs. 500 crore

According to reports, PNB Housing Finance might witness a significant block deal worth Rs. 500 crore in the near future. The specifics of the sellers involved in the stake sale have not been disclosed yet.

CNBC Awaaz reported that the block deal is anticipated to involve the sale of 69.6 lakh shares of the company. The floor price for this deal is pegged at Rs. 717 per share, representing a discount of nearly 9 percent compared to the current market price.

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On May 28, PNB Housing stock concluded 1.43 percent lower at Rs. 786.85 per share on the BSE.

Earlier this year, Investment Opportunities V, a Singapore-based investor, offloaded its entire 9.88 percent stake in the company for Rs. 2,106 crore through an open market transaction.

In the third quarter of the financial year 2023-24, PNB Housing Finance reported a noteworthy 26 percent year-on-year surge in its net profit, reaching Rs. 338.44 crore.

As of December 31, 2023, the Gross Non-Performing Assets (NPA) stood at 1.73 percent, showcasing a considerable decrease compared to the previous year’s figure of 4.87 percent and the preceding quarter’s 1.78 percent.

Furthermore, the Retail Gross NPA was recorded at 1.67 percent as of December 31, 2023, exhibiting a decline from the figures reported in the corresponding periods of the previous years.