Carlyle Group's Strategic Exit from PNB Housing Finance: A $2.7 Billion Move

The Carlyle Group has sold its 10.44% stake in PNB Housing Finance for Rs 2,712 crore. The shares were sold through block deals on the NSE and BSE. Post-sale, the shares saw a price increase, showing investor confidence. This marks another major divestment by Carlyle in PNB Housing.

The global investment powerhouse, Carlyle Group, successfully withdrew its 10.44% stake in PNB Housing Finance, translating into an impressive Rs 2,712 crore gain. The strategic divestment was executed through open market transactions on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

The divestment process saw Quality Investment Holdings PCC, an affiliate of Carlyle Group, offload over 2.71 crore shares. Notable transactions included more than 1.73 crore shares disposed on the NSE and around 98.07 lakh shares on the BSE, structured across eight block deals.

This major stake sell-off was met with enthusiasm by significant investors such as Nippon India Mutual Fund, Goldman Sachs, and HDFC Bank. Following the transactions, PNB Housing Finance's share prices witnessed a considerable rise, reinforcing positive market sentiment.

(With inputs from agencies.)