Morgan Stanley and BNP Paribas Buy Stake in PNB Housing Finance
Two FPIs sell stake in PNB Housing Finance for Rs 1,004 crore.
Foreign Investors Sell Shares
On Thursday, two foreign portfolio investors (FPIs) sold their shares in PNB Housing Finance Ltd. worth a massive Rs 1,004 crore through open market transactions.
New Buyers on the Scene
Leading the purchase were BNP Paribas Financial Markets and Morgan Stanley Asia Singapore Pte., making significant investments in the Indian housing finance company.
Detailed Transactions
Asia Opportunities V (Mauritius) Ltd. sold 63.79 lakh shares at Rs 786.46 per share, while General Atlantic Singapore Fund FII Pte. offloaded their shares at Rs 787.88 apiece.
In total, each of these investors sold a 2.45% stake in PNB Housing Finance. As of March, both investors held significant shares, with Asia Opportunities V (Mauritius) having a 9.88% stake, and General Atlantic Singapore Fund holding a 9.82% stake.
Major Buyers Step In
On the other side, BNP Paribas bought a 1.1% stake at Rs 785 per share. Morgan Stanley acquired 22.85 lakh shares at the same rate of Rs 785 apiece.
Previously, on May 29, both Asia Opportunities V (Mauritius) and General Atlantic Singapore Fund had sold over 2.23% of each other for a total amount of Rs 844 crore, with shares being sold at an average of Rs 727.36 per share.
PNB Housing Finance's Plans
In addition to these transactions, PNB Housing Finance has plans to raise Rs 10,000 crore through non-convertible debentures (NCDs), aiming to enhance its financial position and support its business growth.
By involving big names like Morgan Stanley and BNP Paribas, PNB Housing Finance is set to bolster its financial foundation and continue its growth journey.
