Morgan Stanley, others acquires 6.8% stake in PNB Housing for Rs 16.64 Bn
Morgan Stanley, Societe Generale and another entity on Wednesday picked up a total of 177 million, or 6.82% stake, of PNB Housing Finance through open market transactions worth Rs 16.64 billion. According to bulk deal data available on the National Stock Exchange (NSE), Morgan Stanley through its arm Morgan Stanley Asia Singapore purchased over 142 million shares or a 5.4% stake in PNB Housing in two transactions. Ghisallo Master Fund bought 17.90 lakh shares of PNB Housing while Societe Generale acquired 17.09 lakh shares of the firm, as per the data. Meanwhile, global investment firm Carlyle Group through its affiliate Quality Investment Holdings PCC offloaded 245 million shares or 9.43% stake in PNB Housing Finance for Rs 2,301.58 crore through open market transactions. The shares were sold at an average price of Rs 939.42 per piece. After the transaction, Carlyle's stake has come down to 10.44 per cent from 19.87 per cent. Details of the other buyers of PNB Housing Finance's shares could not be ascertained on the exchange. In July, US-based Carlyle divested a 12.8 per cent stake in PNB Housing Finance for Rs 25.78 billion. Shares of PNB Housing Finance declined 6.90 per cent to close at Rs 915.35 apiece on the NSE.
Related Stories
SpiceJet Settles 10 Months of Pending PF and Salaries for Employees
The airline also confirmed that it had successfully reached settlements with several lessors.
Page {{currentPage}} of {{pageCount}}
{{#products}}
{{copy}}