HDFC Life Buys Rs.90 Crore Stake in PNB Housing Finance

04 Nov 2024 CW Team

HDFC Standard Life Insurance Company has purchased shares worth Rs.900 milion in PNB Housing Finance through an open market transaction. As per data from the Bombay Stock Exchange (BSE), HDFC Life acquired over 10 lakh shares at an average price of Rs.900 per share, representing a 0.4% stake in the company.

Meanwhile, foreign investor Asia Opportunities V (Mauritius) Ltd offloaded part of its stake in PNB Housing Finance at the same price. This transaction reduced its holding from 1.34% to 0.94%.

Following the deal, shares of PNB Housing Finance closed 2.33% higher at ?922.8.

Earlier in August, Asia Opportunities V sold a 3% stake in PNB Housing for over Rs.6.76 billion. Prior to that, in May, it along with General Atlantic divested a combined 4.46% stake for Rs.8.43 billion.

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