The U.S.-based Carlyle Group sold its entire 10.44% stake in PNB Housing Finance, a major non-banking finance company based in India, through a block deal. The sale, estimated at around 17.3 million shares, took place at ₹1,000.20 per share, slightly below the previous closing price. Despite the exit, shares of PNB Housing rose by 6% on the National Stock Exchange.
U.S.-based private equity firm Carlyle Group, known for global investments in private equity, real assets, and private credit, has exited PNB Housing Finance Ltd., a prominent non-banking financial company (NBFC) based in New Delhi, India. The group sold its full 10.44% stake via block deals.
Carlyle held its shares in PNB Housing Finance through its affiliate, Quality Investment Holdings, and was the company’s second-largest shareholder. The block deal involved around 17.3 million shares, which account for roughly 60% of the total transaction, exchanged during early trading hours on May 2.
The shares were sold at ₹1,000.20 each—just under a 1% discount to the closing price on April 30. Interestingly, the move did not deter market sentiment, as shares of PNB Housing Finance surged by 6% on May 2.
The block trade was reportedly launched at a floor price of ₹960 per share. While the exact details of the buyers remain undisclosed, stock exchange data confirmed the volume traded.
Both Carlyle Group and PNB Housing Finance declined to comment on the development.
PNB Housing Finance, headquartered in New Delhi, offers retail and corporate housing loans and is among the top housing finance companies in India. The company’s strong performance has continued to attract investor interest even amidst such large-scale exits.
