NEW DELHI: Carlyle Group, a global investment firm, has fully exited its stake in PNB Housing Finance by selling its 10.44% ownership for Rs 2,712 crore through open market transactions on Friday.
The US-based Carlyle Group, via its affiliate Quality Investment Holdings PCC, sold over 2.71 crore shares of PNB Housing Finance on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Quality Investment Holdings PCC sold over 1.73 crore shares on the NSE while the Carlyle arm disposed of 98.07 lakh shares in eight separate transactions on the BSE. The average price for these transactions was Rs 1,000.20 per share, totaling a deal value of Rs 2,712.97 crore.
Buyers on the BSE included Nippon India Mutual Fund, Kotak Mahindra Mutual Fund, Nomura Funds Ireland, and Daiwa House Industry from Osaka, Japan. On the NSE, Société Générale, Goldman Sachs, Morgan Stanley, Canara Robeco Mutual Fund, HDFC Bank, Citigroup Global Markets Mauritius, and others, including Billionaire Azim Premji’s investment firm Premji Invest and SBI Life Insurance, acquired shares.
Other entities such as Singapore’s Aurigin Capital, Cohesion Investments, Madhusudan Kela’s Cohesion MK Best Ideas Sub-Trust, Norway’s Pension Fund Global, and Saudi Arabia’s Public Investment Fund also participated in the purchase.
On Friday, shares of PNB Housing Finance increased by 4.29% to close at Rs 1,053.50 on the NSE, and rose by 4.02% to settle at Rs 1,050.85 on the BSE.
In November 2024, Carlyle Group previously sold 2.45 crore shares (9.43% stake) for Rs 2,301.58 crore. Earlier, in July 2022, Carlyle divested a 12.8% stake for Rs 2,578 crore.
In March 2022, PNB Housing’s board approved a Rs 2,500-crore rights issuance after a failed attempt to sell shares to Carlyle Group and other investors.
PNB Housing aimed to raise Rs 4,000 crore in equity capital and had engaged in a deal with Carlyle Group and other investors in May 2021. However, it terminated the deal in October 2021 due to delays caused by ongoing legal proceedings.
