Home / BUSINESS / PNB Housing Finance gains after CCI approves acquisition of 6.5% stake by General Atlantic Group in company

PNB Housing Finance gains after CCI approves acquisition of 6.5% stake by General Atlantic Group in company

PNB Housing Finance is currently trading at Rs. 696.20, up by 3.75 points or 0.54% from its previous closing of Rs. 692.45 on the BSE.

The scrip opened at Rs. 695.00 and has touched a high and low of Rs. 704.90 and Rs. 694.05 respectively. So far 8697 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1428.50 on 28-Aug-2018 and a 52 week low of Rs. 679.00 on 02-May-2019.

Last one week high and low of the scrip stood at Rs. 717.00 and Rs. 680.00 respectively. The current market cap of the company is Rs. 11729.63 crore.

The promoters holding in the company stood at 32.79%, while Institutions and Non-Institutions held 28.81% and 38.40 % respectively.

The Competition Commission of India (CCI) has given an approval for the acquisition of 6.5% stake by General Atlantic Group in PNB Housing Finance.

Punjab National Bank (PNB) in March had said that it will sell 6.5% of its stake in PNB Housing Finance to General Atlantic Group. PNB had entered into agreement for sale of 1,08,91,733 equity shares held in PNB Housing Finance to General Atlantic Group at Rs 850 per share for Rs 925.80 crore.

PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.

Please share this news