Mumbai: US-based private equity firm Carlyle is likely to sell upto a 6.4% stake in PNB Housing Finance through an open market transaction on Tuesday.
According to a term sheet issued by IIFL Securities, Quality Investment Holdings, an entity of Carlyle, will sell 1.66 crore shares at a floor price of Rs 775 apiece, aiming to raise Rs 1,256 crore. The floor price represents a 5% discount to Monday’s closing price of Rs 794.90.
PNB Housing stock has grossly underperformed so far this year, with just a 1.2% gain compared to a 13% rise in the benchmark Sensex. As of June 30, 2024, Carlyle held a 32.68% stake in the housing finance company.
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