Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
General Atlantic plans to sell a 5.1% stake in PNB Housing Finance through an open market transaction, offering 1.33 crore shares at a minimum price of INR. 775 each, aiming to raise INR 1,033 crore (USD 125 million). This price is 4% below the previous closing price of INR 810.90. The shares will not have a lock-in period, allowing immediate trading post-sale. As of June 30, 2024, General Atlantic held a 5.13% stake in the company. Previously, Carlyle sold a 12.8% stake in PNB Housing Finance for INR 2,578 crore. PNB Housing Finance's net profit rose 25% year-over-year in FY25 Q1, driven by strong home loan demand. The company also plans to expand into non-housing and small-sized prime loans to boost profitability.
General Atlantic, a private equity firm, recently announced their plans to sell a 5.1% stake in PNB (Punjab National Bank) Housing Finance through an open market transaction, i.e, sell shares on the stock market for the public to purchase at market price rather than sell privately. Advertisement
The company is planning to sell around 1.33 crore (13.3 million) shares. According to the details provided by IIFL Securities, which is facilitating the sale, the shares will be offered at a minimum price (floor price) of INR 775 each. By selling these shares at this floor price, the fund aims to raise a total of INR 1,033 crore, which is approximately USD 125 million.
The sale of the shares won't have a lock-in period, meaning that once the transaction is completed, the shares can be bought and sold freely without any restrictions. According to data from the Bombay Stock Exchange (BSE), as of June 30, 2024, General Atlantic owned 5.13% of PNB Housing Finance.On June 30th, US private equity firm Carlyle sold a 12.8% share in PNB Housing Finance through a stock market transaction, raising INR 2,578 crore.
In conclusion, General Atlantic, a private equity firm, is selling a 5.1% stake in PNB Housing Finance through an open market transaction, aiming to raise around INR 1,033 crore (USD 125 million) by offering the shares at a minimum price of INR 775 per share, which is a 4% discount from the last closing price. This sale comes shortly after another private equity firm, Carlyle, sold a 12.8% stake in the same company, raising INR 2,578 crore, indicating a broader trend of private equity exits from the Indian housing finance market.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
