Shares of PNB Housing Finance surged over 5% in early trading today following the execution of a major block deal, though only half of the expected quantity changed hands. Reports suggest that Carlyle Group, one of the largest shareholders in the company, may have been the seller.
A total of 1.73 crore shares were traded, compared to the planned 2.74 crore shares, as per CNBC-TV18. This activity led to volumes nearly four times the one-month average for the stock. The indicative block price was set at Rs 960 per share, reflecting a 5% discount to the April 30 closing price of Rs 1,010.20.
According to Moneycontrol, Carlyle, through its affiliate Quality Investment Holdings PPC, was looking to divest up to 10.4% stake in PNB Housing Finance to raise approximately $308 million. IIFL Capital is believed to be advising on the deal, with sources requesting anonymity.
Despite the stake sale news, investor sentiment remained upbeat as the company recently reported robust Q4FY25 results. PNB Housing aims to achieve a retail loan book of Rs 1 lakh crore by FY27. Its affordable loan portfolio has surpassed Rs 5,000 crore, contributing to 36% of retail disbursements, signaling a strategic pivot toward affordable and emerging market segments amid rising competition and margin pressure.
Disclaimer:
The information in this article is based on media reports and unofficial sources. Jobaaj News does not independently verify the identities of block deal participants or the precise terms of the trade. Market participants are advised to consult certified financial advisors before making any investment decisions.
