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Quality Investment Holdings PCC plans to sell a 9.43% stake in PNB Housing Finance at ₹939.3 per share, representing a 4.25% discount to the NSE closing price. PNB Housing Finance's quarterly results show a 23% profit growth.
Quality Investment Holdings PCC has announced plans to sell a 9.43% stake in PNB Housing Finance, amounting to 2.45 crore shares. The shares will be offered at ₹939.3 per share, reflecting a 4.25% discount compared to the closing price of ₹987.40 on the NSE. The transaction is being managed by Morgan Stanley. This move will leave the investor with a 10.44% holding in the company, post the mandatory 60-day lock-in period.
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Quality Investment Holdings will sell 9.43% of its stake in PNB Housing Finance.
Offer price set at ₹939.3 per share, 4.25% below the NSE closing price.
Morgan Stanley appointed as transaction manager.
Post-sale, Quality Investment Holdings will retain a 10.44% stake.
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PNB Housing Finance has shown robust financial growth in the second quarter of FY25. The company reported a 23% year-on-year growth in net profit, reaching ₹470 crore. This improvement was primarily driven by better asset quality, with the GNPA ratio reducing to 1.24% compared to 1.78% a year ago.
Financial Metric | Q2 FY25 | Q2 FY24 | Q1 FY25 |
Net Profit (₹ crore) | 470 | 382 | - |
Net Interest Income (₹ crore) | 669 | 661 | 651 |
Gross NPAs (%) | 1.24 | 1.78 | 1.35 |
Net Interest Margin (%) | 3.68 | 3.95 | 3.65 |
The PNB Housing Finance share price ended at ₹987.40 on the BSE, up 2.22% on the day of the announcement. Despite the discount in the offer price, market sentiment towards the company's improved financial performance appears positive.
With a 23% profit growth and declining NPAs, PNB Housing Finance has demonstrated strong resilience in the housing finance sector. However, a dip in the net interest margin highlights slight pressure on profitability.
Quality Investment Holdings PCC’s stake sale in PNB Housing Finance reflects strategic portfolio adjustments while the housing financier maintains steady growth. The development, coupled with strong financials, signals a significant moment for market watchers and investors monitoring the PNB Housing Finance share price.
Read more: Tata Chemicals Europe to Invest ₹655 Crore in UK Sodium Bicarbonate Plant
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