General Atlantic Singapore Fund FII Pte Ltd is set to offload a 5.1% stake in PNB Housing Finance Ltd via a block deal on Wednesday, August 21, according to CNBC-TV18 sources.

The private equity major plans to sell shares at a floor price of ₹775 per share, which represents a 4.4% discount to the company’s closing price of nearly ₹810 today on the NSE, down 1.4% in trade.

The stake on offer amounts to 5.1% of PNB Housing Finance’s equity, translating to an overall deal size of approximately ₹1,032.7 crore.

#NewsFlash | General Atlantic Singapore Fund FII Pte likely to sell 5.1% equity in PNB Housing Fin.Floor price for the deal is at ₹775/sh, at a 4.4% discount to CMP , sources to @kothariabhishek pic.twitter.com/CdNwvu8C1o

— CNBC-TV18 (@CNBCTV18Live) August 20, 2024

The transaction is a clean-out trade, with IIFL Securities acting as the sole broker.

Furthermore, the sale will not be subject to any lock-in period, allowing the shares to be freely traded post-transaction.

Earlier on June 30, PE major Carlyle also sold over 13% stake in PNB Housing Finance via a block deal worth ₹2,642 crore. As many as 3.4 crore shares changed hands at ₹778 per share in block deals, according to a CNBC-TV18 report.

PNB Housing Finance is a key player in the housing finance sector. It reported a 25% jump in net profit for the first quarter at ₹433 crore. The company’s gross non-performing assets (GNPA) declined by 241 basis points (bps) to 1.35%. Disbursement grew 19% year-on-year to ₹4,398 crore.