PNB Housing Finance Witnesses Block Deal of 2.7% Equity Stake
PNB Housing Finance shares have seen a significant block deal of 2.7% equity stake
Pnb Housing FinanceBlock DealEquity StakeAsia Opportunities VGeneral Atlantic Singapore FundReal Estate NewsMay 29, 2024
The official buyers and sellers in the block deal are not yet known. However, sources revealed that two shareholders of the company were offered a 2.68% stake in the company, equivalent to 6.96 million shares. The floor price for the offer was set at a 5% discount to the last closing price at ₹717 per share.
The two sellers involved in the block deal are Asia Opportunities V (Mauritius) Ltd and General Atlantic Singapore Fund Pte Ltd. UBS Securities and BNP Paribas panelists were the brokers for the placement.
PNB Housing Finance has reported a 57.3% increase in consolidated net profit at ₹439.3 crore in the fourth quarter, compared to the previous year's ₹279.3 crore. The consolidated net interest income for the quarter also rose 7.2% to ₹623.2 crore against ₹581.2 crore in the corresponding quarter of the last fiscal.
As of the March quarter, Asia Opportunities V (Mauritius) Ltd held a total of 9.88% in the company, while General Atlantic Singapore Fund Pte Ltd has a 9.92% stake.
PNB Housing Finance is a leading housing finance company in India, providing home loans and other financial services to individuals and corporates.
PNB Housing Finance is a subsidiary of Punjab National Bank (PNB), one of the largest public sector banks in India. The company was established in 1988 and is headquartered in New Delhi, India.
Frequently Asked Questions
What percentage of equity stake was offered in the block deal? A: 2 68% Q: How many shares changed hands in the block deal? A: 6 96 million Q: Who were the two sellers involved in the block deal? A: Asia Opportunities V (Mauritius) Ltd and General Atlantic Singapore Fund Pte Ltd Q: What was the floor price for the offer set at? A: 5% discount to the last closing price at ₹717 per share Q: How much did PNB Housing Finance's consolidated net profit increase in the fourth quarter? A: 57 3% to ₹439 3 crore
Answer not available
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