Carlyle group sells 12.8 pc stake in PNB Housing for Rs 2,578 cr; Singapore govt picks up stake

New Delhi, Jul 30 (PTI) The Carlyle Group on Tuesday divested a 12.8 per cent stake in PNB Housing Finance for Rs 2,578 crore through open market transactions while Singapore government, Monetary Authority of Singapore picked up stakes in the company.

US-based global investment firm Carlyle group through its affiliate Quality Investment Holdings PCC offloaded 3,32,60,000 shares, amounting to a 12.8 per cent stake in PNB Housing Finance, according to the bulk deal data available on the BSE.

Shares were disposed of in the price range of Rs 775.02-775.25 apiece, taking the deal value to Rs 2,578.09 crore.

After the stake sale, Carlyle group's stakeholding in PNB Housing Finance has declined to 19.88 per cent from 32.68 per cent.

Aditya Birla Sun Life Mutual Fund (MF), DSP Black MF, HSBC MF and ICICI Prudential Life Insurance Company acquired 1.46 crore shares or 5.62 per cent stake in PNB Housing Finance.

The shares were bought at an average price of Rs 775 per piece, taking the combined transaction value to Rs 1,131.78 crore.

Details of the other buyers of PNB Housing Finance's shares could not be ascertained.

On Tuesday, shares of PNB Housing Finance fell 1.87 per cent to close at Rs 779.35 apiece on the BSE.

Last week, PNB Housing Finance reported a 25 per cent improvement in its net profit to Rs 433 crore in the first quarter ended June 2024. The housing finance company had posted a net profit of Rs 347 crore in the same quarter a year earlier.

Total income during the quarter rose to Rs 1,832 crore from Rs 1,708 crore in the same quarter of the previous fiscal, the company said.

The lender's interest income in Q1 was higher at Rs 1,739 crore against Rs 1,667 crore in the same period a year ago. Its Net interest income grew by 4 per cent to Rs 651 crore at the end of the first quarter ended June 2024. PTI HG HG MR