PNB Housing Finance shares drop over 3% after ₹715.6 crore block deal; check details

According to reports, around 81 lakh shares of PNB Housing Finance Ltd changed hands in block deals on Thursday.

According to reports, the equity changed hands at a floor price of ₹873 per share, compared to Wednesday’s close of ₹892.85 per share on the NSE.

Asia Opportunities V (Mauritius) is likely the seller of the shares. Other sellers and buyers of shares were not known immediately. Bourses will update details of buyers and sellers of shares after market hours.

A Bloomberg report said that Asia Opportunities V (Mauritius) was looking to divest up to 1.29 crore PNB Housing Finance shares through block deals to raise around $132 million (around ₹1,100 crore) from the sale.

Asia Opportunities V (Mauritius) had a 5.19% stake in PNB Housing Finance at the end of the June quarter, according to exchange data.

On Wednesday, another institutional investor, General Atlantic Singapore, sold around 1.33 crore shares or 5.1% of an equity stake in PNB Housing Finance at ₹802.50 per share, according to BSE bulk deal data. The total deal value was around ₹1,069 crore.

The Singapore government, HSBC Mutual Fund, AB Sun Life Mutual Fund, ICICI Prudential Life Insurance and the Monetary Authority of Singapore were among the buyers of the shares.

Carlyle Group affiliate Quality Investment Holdings PCC last month sold a significant stake, worth ₹2,642 crore, in PNB Housing Finance.

PNB Housing Finance shares dropped as much as 3.49% to hit a low of ₹861.65 per share on NSE after the block deal. However, the stock recovered some of the early losses to trade 2.99% lower at ₹866.15 apiece on the NSE at 11:45 am.

On BSE, the stock also dropped more than 3% to a low of ₹861.15 per share.