Carlyle to sell $308 million stake in PNB Housing via block deal
Mumbai: Carlyle is launching a block trade to offload up to $308 million (Rs 2,604 crores) worth of shares in PNB Housing Finance Ltd., according to deal terms seen by ET.
ADVERTISEMENT Carlyle is offering up to 27.1 million shares in the mortgage lender, representing around 10.4% of the total outstanding equity. The floor price for the transaction is set at Ra 960 per share, reflecting a 5% discount to PNB Housing's April 30 closing price of Ra 1,010.20 on the National Stock Exchange.
The transaction, which is entirely secondary in nature, is being managed by IIFL Capital Services Ltd., acting as the sole bookrunner and placement agent.
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