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Quality Investment Holdings PCC to Sell 9.43% Stake in PNB Housing Finance

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Synopsis:

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.

PNB Housing Finance news today

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.

Also read: Federal Bank Raises ₹1,500 Crore in Maiden Infrastructure Bond Issuance

PNB HOUSING FIN LTD.

Trade

904-20.65 (-2.23 %)

Updated - 14 November 2024
944.30day high
DAY HIGH
894.95day low
DAY LOW
2880521
VOLUME (BSE)

Key Takeaways

  • 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.

Read more: EMS Secures ₹681.5 Crore JV Contract with Kolkata Municipal Corporation

Financial Performance Of PNB Housing Finance

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

Market Impact And PNB Housing Finance Share Price

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

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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