Carlyle looks to offload remaining stake in PNB Housing
MUMBAI: US-based private equity giant Carlyle is looking to offload its entire remaining stake in PNB Housing Finance through a $308 million – or ₹2,604 crore – block trade on Friday, according to a term sheet issued by IIFL Capital. The sale is being executed via Quality Investment Holdings, a Carlyle affiliate, which is offering its entire holding of 27.1 million shares, representing a 10.44% stake in the mortgage lender. The floor price for the sale has been fixed at ₹960 per share, implying a 5% discount to PNB Housing’s April 30 closing price of ₹1,010.20 on the National Stock…