pnb housing finance shares: Carlyle likely sells stake in PNB Housing Finance via block deal
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Shares of PNB Housing Finance were in the spotlight in Tuesday's early trade after 13.1% equity of the company changed hands in a block deal in which US-based private equity firm Carlyle is believed to be the seller. Carlye had upsized the size of the block deal to Rs 2,511 crore or 12.8% of equity at a floor price of Rs 755, ET Now reported. Earlier it was reported that the PE firm will sell up to a 6.4% stake in the company through an open market transaction. Following the large deal, PNB Housing Finance shares were trading 1.5% lower at Rs 782.5 on BSE. The stock has grossly underperformed so far this year and is flat on a year-to-date basis as compared to a 13% rise in the benchmark Sensex. As of June 30, 2024, Carlyle held a 32.68% stake in the housing finance company. In the June quarter, the company's net profit increased by 25% year-on-year (YoY) and declined by 1.5% quarter-on-quarter (QoQ) to Rs 433 crore while net inter...