Quality Investment Holdings PCC offloaded shares worth Rs 3,207 crore, representing a 9.43% stake, in PNB Housing Finance Ltd. to various buyers on Wednesday, according to the NSE bulk deal data.
Quality Investment Holdings PCC held a 19.87% stake in the company as of Sept. 30, 2024, according to the stock exchange data.
NSE Bulk Deals
Morgan Stanley Asia (Singapore) PTE.-ODI bought Rs 1,124.4 crore worth of shares, representing a 4.6% stake in PNB Housing Finance from Quality Investment Holdings PCC.
Morgan Stanley Asia (Singapore) PTE bought Rs 211.3 crore worth of shares, representing a 0.86% stake, in PNB Housing Finance.
Ghisallo Master Fund LP bought Rs 168.1 crore worth of shares, representing a 0.68% stake, in PNB Housing Finance.
Societe Generale-ODI bought Rs 160.5 crore worth of shares (representing 0.65% stake) in PNB Housing Finance.
On Tuesday, PNB Housing Finance had announced that the Carlyle Group planned to sell shares for the amount of $273 million through a block trade at a floor price of Rs 939.3 per share, through its subsidiary Quality Investment Holdings PCC.
Shares of PNB Housing Finance Ltd. dropped by 7.94%, reaching Rs 905.05 per share on Wednesday, their lowest point since Oct. 29. The decline followed the Carlyle Group's sale of a 9.51% stake in the company, amounting to 2.47 crore equity shares, through two large block trades.
The shares were sold at a price range of Rs 944.45 to Rs 944.15 each, as per data from Cogencis at 9:15 a.m. on the National Stock Exchange.
Shares of PNB Housing Finance closed 6.90% lower at Rs 924.65 apiece on the NSE, compared to a 1.36% decline in the benchmark Nifty 50. The stock has risen 18.43% on a year-to-date basis and 19.26% over the past 12 months.
Out of the 12 analysts tracking the company, 10 have a 'buy' rating on the stock, one suggests 'hold' and another recommends 'sell', according to Bloomberg data. The average of 12-month analysts' consensus price targets implies a potential upside of 27.7%.
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