National Bank (PNB) on Friday said in a regulatory filing that it will be
selling a part of its stakes in PNB Housing Finance Limited to General Atlantic
& Varde Partners for Rs1,851.60-crore.
Atlantic Group, which holds 9.91% in PNB Housing Finance, and American
investment firm Varde Partners bought 10,891,733 equity shares each of PNBHF at
Rs.850 per share for a total of Rs. 1,851.60 crore, on Friday. The deals are subject to satisfaction of
customary conditions, regulatory approvals, PNB said.
of PNB Housing Finance were trading 4.36% higher at Rs864.65 per share on
NSE, while shares of PNB gained 0.52% at Rs95.85 on NSE around 3.10pm on
Friday. In comparison, Sensex traded at 38674-mark up 128points and Nifty
up 54points at 11624.35