A foreign portfolio investor of PNB Housing Finance Ltd. offloaded stake worth Rs 1,004 crore through open market transactions on Tuesday.
The buyers include the Government of Singapore and the Monetary Authority of Singapore, Aditya Birla Sunlife Mutual Fund, ICICI Prudential Life Insurance Co., DSP Blackrock Mutual Fund and HSBC Mutual Fund.
Quality Investment Holdings PCC divested 12.8% shares in two different installments of 1.6 crore shares each, totalling over 3 crore shares at Rs 775.25 apiece, according to bulk deal data on the BSE.
NDTV Profit reported on Monday that the Carlyle Group entity had plans to sell up to 6.4% stake in the housing financier for Rs 1,255 crore through open market deals. As of June, the public investor owned 32.68% stake in the mortgage lender based in Delhi.
The firm was set to offer 1.66 crore shares at a floor price of Rs 755 apiece, representing a discount of 5% to its Rs 794.9 per share close on the NSE on Monday, according to the term sheet accessed by NDTV Profit.
On the other hand, Singapore government-linked entities bought 75 lakh shares, Aditya Birla Sun Life Mutual Fund purchased 29.03 lakh shares (1.11%), and ICICI Prudential Life Insurance mopped up 14.19 lakh shares (0.54%). DSP Blackrock Mutual Fund purchased 13.7 lakh shares (0.52%) and HSBC Mutual Fund bought 13.48 lakh shares (0.51%). All purchases were at Rs 775 per share.
Shares of PNB Housing closed 1.88% lower at Rs 794.90 per share according to NSE data, as compared with a 0.09% advance in the NSE Nifty 50.
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