PNB Housing Finance Block Deal: 9.5% equity worth ₹2,300 crore changes hands

A total of 2.5 crore shares or 9.5% equity of PNB Housing worth ₹2,300 crore changed hands in block deals on Wednesday, November 13, 2024.

On Tuesday, November 12, CNBC-TV18 reported, citing sources that Quality Investment Holdings PCC was to sell 9.43% stake in PNB Housing Finance, amounting to 2.45 crore shares, at an offer price of ₹939.3 per share.

Morgan Stanley has been appointed as the banker to manage the deal, sources said.

Following the transaction, Quality Investment, which currently holds a 19.87% stake in the company, will be subject to a 60-day lock-in period.

PNB Housing Finance reported a 23% year-on-year rise in net profit for the second quarter of FY25, reaching ₹470 crore. The improvement in profit was attributed to better asset quality, with the gross non-performing assets (GNPA) ratio declining to 1.24%, down from 1.78% a year ago and 1.35% in the previous quarter.

PNB Housing Finances-PNB Housing Finance shares were trading 6.63% lower at ₹918.8 apiece. The stock has gained 16.78% this year, so far.

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