On Tuesday, PNB Housing Finance had announced that the Carlyle Group planned to sell shares for the amount of $273 million through a block trade at a floor price of Rs 939.3 per share, through its subsidiary Quality Investment Holdings PCC.
Shares of PNB Housing Finance Ltd. dropped by 7.94%, reaching Rs 905.05 per share on Wednesday, their lowest point since Oct. 29. The decline followed the Carlyle Group’s sale of a 9.51% stake in the company, amounting to 2.47 crore equity shares, through two large block trades.
The shares were sold at a price range of Rs 944.45 to Rs 944.15 each, as per data from Cogencis at 9:15 a.m. on the National Stock Exchange.
