Quality Investment Holdings, an arm of private equity giant Carlyle, today sold 4.8 per cent stake in PNB Housing Finance for Rs 1,024 crore through an open market transaction.
According to bulk deal data available with BSE and NSE, Quality Investment offloaded 80 lakh shares, amounting to 4.8 per cent stake in the housing finance company, for a total of Rs 1,024 crore.
The shares were sold at Rs 1,280 apiece, higher than PNB Housing Finance's closing price of Rs 1263.55 today.
Meanwhile, General Atlantic Singapore Fund picked up 17.3 lakh shares of PNB Housing Finance for over Rs 221 crore.
As of March this year, Quality Investment held 37.33 per cent stake in PNB Housing Finance, while General Atlantic Singapore owned 8.52 per cent in the company.
Following the deal, the shares fell 8.05 per cent to close at Rs 1263.55 apiece.
The mortgage lender is the fifth largest largest housing finance company with the asset under management of Rs 62,252 crore as on March 31, 2018.