PNB Housing shares jump over 7% after shares worth Rs 1,732.03 crore change hands in block deal
By Aditya Bhagchandani Published on May 2, 2025, 09:39 IST
Shares of PNB Housing Finance surged 7.3% to ₹1,083.60 in Friday's early trade after a large block deal took place as the market opened. Approximately 4.19% worth Rs 1732.03 crore of the company's equity exchanged hands during the pre-market block window, today.
According to CNBC-TV18, Carlyle Group's affiliate Quality Investment Holdings PCC sold its entire 10.44% stake in the company through block deals.
The stake sale involved 27.1 million shares with a total deal size of ₹2,604 crore. The floor price was set at ₹960 per share, representing a 5% discount to PNB Housing's April 30 closing price of ₹1,010.20 on the NSE.
This transaction marks Carlyle's complete exit from PNB Housing, nearly a decade after its initial ₹1,600 crore investment for a 49% stake in 2015. Over the years, Carlyle steadily pared down its holdings, trimming it to 32.68% post-IPO in 2016, then selling 12.8% in July 2024 for ₹2,578 crore and another 9.43% in November 2024 for ₹2,300 crore. With today's sale, Carlyle's estimated return on investment stands at a strong 367% in rupee terms.
IIFL Capital Services acted as the sole bookrunner and placement agent for the fully secondary transaction.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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