2 weeks ago
Shares of PNB Housing Finance Ltd ended at ₹987.40, up by ₹21.40, or 2.22% on the BSE.
Quality Investment Holdings PCC is likely to sell a 9.43% stake in PNB Housing Finance, amounting to 2.45 crore shares, at an offer price of ₹939.3 per share, sources privy to the developments told CNBC-TV18.
The offer price represents a discount of 4.25% to the stock's closing price on the NSE. Morgan Stanley has been appointed as the banker to manage the deal, sources in the know told CNBC-TV18. 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.
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The company’s net interest income (NII) showed modest growth, up 1.2% year-on-year to ₹669 crore. On a quarterly basis, NII rose 2.7%, although the net interest margin (NIM) slipped to 3.68% from 3.95% in the year-ago period, suggesting some margin pressure.
The housing financier’s net interest margin (NIM) for the September quarter stood at 3.68%, reflecting a slight improvement from 3.65% in the previous quarter. However, it remains lower than the 3.95% recorded in the same period last year.
Shares of PNB Housing Finance Ltd ended at ₹987.40, up by ₹21.40, or 2.22% on the BSE.
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