Carlyle Group exits PNB Housing Finance; sells 10.44% stake for Rs 2,712 crore
NEW DELHI: Global investment firm
Carlyle Group
on Friday exited
PNB Housing Finance
by selling its entire 10.44 per cent stake for Rs 2,712 crore through open market transactions.
US-based Carlyle group, through its affiliate
Quality Investment Holdings PCC
, sold more than 2.71 crore shares, or 10.44 per cent stake, in
PNB Housing
Finance on the National Stock Exchange (NSE) and the BSE.
Quality Investment Holdings PCC offloaded more than 1.73 crore shares of PNB Housing Finance on the NSE and the Carlyle group arm sold 98.07 lakh shares of city-based PNB Housing Finance in eight tranches on the BSE, as per the separate block deals on the bourses.
The shares were disposed of at an average price of Rs 1,000.20 apiece, taking the combined deal value to Rs 2,712.97 crore.
Meanwhile,
Nippon India Mutual Fund
(MF), Kotak Mahindra MF, Nomura Funds Ireland, and Osaka, Japan-based Daiwa House Industry, among others, were the buyers of PNB Housing Finance's shares on the BSE.
On the NSE, Societe Generale, Goldman Sachs, Morgan Stanley, Canara Robeco MF, HDFC Bank, Citigroup Global Markets Mauritius, Kotak Mahindra Life Insurance, Billionaire Azim Premji's investment arm Premji Invest, and SBI Life Insurance were the buyers of shares of PNB Housing Finance's shares.
Singapore-based Aurigin Capital, Cohesion Investments and Madhusudan Kela's Cohesion MK Best Ideas Sub-Trust, Norway's Pension Fund Global and sovereign wealth fund of the Kingdom of Saudi Arabia Public Investment Fund were the other entities who picked up the shares of housing finance company on the exchange.
On Friday, shares of PNB Housing Finance rose 4.29 per cent to close at Rs 1,053.50 apiece on the NSE, and it went up 4.02 per cent to settle at Rs 1,050.85 per scrip on the BSE.
In November 2024, Carlyle Group offloaded 2.45 crore shares, or 9.43 per cent, stake in PNB Housing Finance for Rs 2,301.58 crore.
Prior to that, in July last year, the US-based Carlyle divested a 12.8 per cent stake in PNB Housing Finance for Rs 2,578 crore.
In March 2022, PNB Housing's board approved the Rs 2,500-crore rights issuance after it aborted the share sale plan to US-based private equity firm Carlyle Group and others.
PNB Housing was looking to raise equity capital worth Rs 4,000 crore, and had entered into a deal with joint venture partner Carlyle Group, among other investors, in May 2021.
However, in October 2021, the mortgage lender decided to terminate the Rs 4,000 crore stake sale citing delays due to pending legal proceedings.
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