PNB Housing: Carlyle Group plans to sell shares for up to $273 million in block trade

A housing finance company based in India, PNB Housing Finance Limited, is registered with the National Housing Bank. It started operating on November 11, 1988, after being incorporated under the Companies Act of 1956. Punjab National Bank is in charge of promoting PNB Housing.

PNB Housing Finance Limited block deal

PNB Housing Finance Ltd.’s stock dropped 7.94% to Rs 905.05 per share, the lowest since October 29. Following two significant block trades in which the Carlyle Group sold off 2.47 crore equity shares, or 9.51% of the company, the decline occurred. According to NSE data, the company has 25.98 crore outstanding shares, with the promoter group owning 28.11% of the equity and public shareholders holding the remaining 71.89%.

PNB Housing Finance Limited Q2 FY25 result

For the quarter that ended on September 30, the housing finance company reported a net profit of Rs. 470 crore, which represented a 23% year-over-year and a 9% sequential increase. Improved asset quality was the main driver of this growth, as evidenced by the gross non-performing assets (NPA) ratio falling to 1.24% from 1.35% the previous quarter and 1.78% a year ago.

NPAs (net non-performing assets) increased to 0.84% from 0.92% in the prior quarter and 1.19% in the prior year. The total value of retail loan assets as of September 30 was Rs. 67,970 crore, with 23% of the portfolio coming from affordable and emerging markets. On the other hand, corporate loans fell 36% year over year to Rs. 1,531 crore as of September 30.

The stock of PNB Housing Finance Limited fell 8% today

Today, PNB Housing Finance Limited’s stock fell 8% and hit a low of Rs. 905.05. The stock is now slightly up and down 6%, trading at Rs. 927.55 per share. The stock dropped 8% today as a result of the block deal, and a 9.43% stake was sold off. It has increased 18.84% so far this year. The day’s total trading volume was 19.80 times higher than the 30-day average. The index of relative strength was 44.82.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.