Shares of PNB Housing fell over 4 percent to Rs 801 per share on June 20 as approximately 1.36 crore shares, or 5.2 percent equity, were traded in multiple block deals.
Sources cited by CNBC-Awaaz suggested that General Atlantic and Asia Opportunities Fund were likely the sellers. Reports indicated that Asia Opportunities V (Mauritius) and General Atlantic Singapore Fund FII Pte were each looking to sell about 5.4 million shares, with the floor price set at Rs 773, which is an 8 percent discount to the previous close of Rs 840.
Following the stake sale, there will be a 60-day lock-in period. UBS was appointed as the broker for this block deal transaction. According to data from the March quarter, Asia Opportunities V held a 9.88 percent stake in the company, while General Atlantic Singapore held 9.22 percent.
In the March-ended quarter, PNB Housing reported a 57.3 percent year-on-year (YoY) increase in consolidated net profit to Rs 439 crore, while consolidated net interest income rose 7.2 percent YoY to Rs 623 crore.
Over the past three months, shares of PNB Housing have surged over 31 percent, outperforming the benchmark Nifty 50 index, which has risen 8 percent during the same period. PNB Housing had previously hit a 52-week high of Rs 913 per share on January 25, 2024.
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