Shares of PNB Housing Finance surged over 5% in the opening trade to hit an early morning high of Rs 855.95 on the NSE after a large block deal took place in the stock. According to data available, 1.3 crore shares or over 5% equity changed hands in PNB Housing Finance in the block deal window on BSE today.
According to a report from CNBC-TV18, General Atlantic Singapore Fund FII PTE was expected to sell around 5.1% equity worth Rs 1,032 crore via a block deal in PNB Housing Finance today.
The CNBC-TV18 report, quoting sources, said that the offer price of the block deal was set at Rs 775 per share, a 4.4% discount to the closing price of PNB Housing Finance on August 20.
The stake sale via General Atlantic Singapore is said to be 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.
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PNB Housing Finance