Asia Opportunities V sells 3% stake in PNB Housing for Rs 676 crore

Asia Opportunities V (Mauritius) on Thursday offloaded a 3 per cent stake in PNB Housing Finance for over Rs 676 crore in an open market transaction, while the Government of Singapore purchased 16 lakh shares in PNB Housing Finance for Rs 143.74 crore. As per the bulk deal data available on the BSE, Asia Opportunities V (Mauritius) divested 78 lakh shares or a 3 per cent stake in PNB Housing Finance at Rs 866.70 apiece, taking the deal value to Rs 676.02 crore.

After the stake sale, the shareholding of Asia Opportunities V (Mauritius) in PNB Housing Finance has reduced to 2.19 per cent from 5.19 per cent.

At the same time, the Singapore government bought a total of 16,59,784 shares, or 0.64 per cent stake, in the state-owned Punjab National Bank arm at an average price of Rs 866.05 apiece on the BSE.


Details of the other buyers of PNB Housing Finance's shares could not be identified.

Shares of PNB Housing Finance Ltd settled 2.94 per cent lower at Rs 867.20 apiece on the BSE.

PNB Housing Finance has witnessed several stake sales in recent months.

On Wednesday, General Atlantic and Pioneer Investment Fund pared a 5.37 per cent stake in the PNB arm for Rs 1,119 crore while the Monetary Authority of Singapore, Goldman Sachs and Morgan Stanley picked up a stake in the company.

In July, private equity firm Carlyle Group divested a 13.1 per cent stake in the lender for Rs 2,642 crore.

In May, Asia Opportunities V (Mauritius) and General Atlantic divested a cumulative 4.46 per cent stake in PNB Housing Finance for Rs 843 crore.