General Atlantic set to sell up to 5.1% stake in PNB Housing via open market on Wednesday
General Atlantic plans to sell a 5.1% stake in PNB Housing Finance through the open market on Wednesday at a floor price of Rs 775 per share, intending to raise Rs 1,033 crore. This transaction is set at a 4.4% discount to Tuesday's closing price.
By Rajesh Mascarenhas, ET Bureau | Updated:
ETMarkets.com
Mumbai: General Atlantic is set to sell up to a 5.1% stake in PNB Housing Finance through an open market transaction on Wednesday.
According to a term sheet issued by IIFL Securities, General Atlantic Singapore Fund FII Pte will sell 1.33 crore shares at a floor price of Rs 775 apiece, aiming to raise Rs 1,033 crore.
The floor price represents a 4.4% discount to Tuesday’s closing price of Rs 810.90. As of June 30, 2024, General Atlantic held a 5.13% stake in the housing finance company.
Last month, the US-based private equity firm Carlyle sold a 12.8% stake in PNB Housing Finance through an open market transaction for Rs 2,578 crore.
According to a term sheet issued by IIFL Securities, General Atlantic Singapore Fund FII Pte will sell 1.33 crore shares at a floor price of Rs 775 apiece, aiming to raise Rs 1,033 crore.
The floor price represents a 4.4% discount to Tuesday’s closing price of Rs 810.90. As of June 30, 2024, General Atlantic held a 5.13% stake in the housing finance company.
Last month, the US-based private equity firm Carlyle sold a 12.8% stake in PNB Housing Finance through an open market transaction for Rs 2,578 crore.
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