General Atlantic Singapore Fund FII Pte Ltd is reportedly planning to sell a 5.1 percent stake in PNB Housing Finance Limited through a block deal at a floor price of Rs 775 per share, according to sources cited by CNBC-TV18 on August 20. This floor price represents a 4.4 percent discount compared to PNB Housing Finance’s current market price of Rs 810 per share.
The expected size of the deal is approximately Rs 1,032.7 crore, with IIFL Securities likely serving as the broker for the transaction. As of June 30, 2024, General Atlantic Singapore Fund held a 5.1 percent stake in PNB Housing Finance, according to exchange data.
In the previous month, PNB Housing Finance reported a nearly 25 percent increase in its first-quarter profit. The company’s consolidated net profit rose to Rs 433 crore for the quarter ended June 30, up from Rs 347 crore in the same period the previous year. Additionally, PNB Housing, a subsidiary of state-run Punjab National Bank, saw its total disbursements increase by 19 percent to Rs 4,398 crore. The company’s net interest income, which is the difference between interest earned and paid, grew by 4 percent to Rs 651 crore.
