News

HDFC Standard Life Acquires PNB Housing Finance Shares Worth Rs 90 Crore.

Banking & Finance | Dated: 19 Nov 2024

Mumbai (Maharashtra) based HDFC Standard Life Insurance Company Limited acquired 0.4% shares of New Delhi (Delhi) based PNB Housing Finance Limited for Rs 90 crore through an open market transaction. This highlights HDFC Standard Life's interest in expanding its portfolio within the housing finance sector.

🎯 Key Highlights:

- The shares were picked up at an average price of Rs 900 apiece, taking the transaction value to Rs 90 crore.
- After the transaction, foreign investor Asia Opportunities V (Mauritius) Ltd reduced its holding in PNB Housing to 0.94% from 1.34%.

💡 Other Important Facts:

In August 2024, Asia Opportunities V (Mauritius) divested a 3% stake in PNB Housing Finance for over Rs 676 crore, while in May 2024, Asia Opportunities V (Mauritius) and General Atlantic liquidated a cumulative 4.46% stake in PNB Housing Finance for Rs 843 crore.

📚 Test Your Knowledge:

Recently, HDFC Standard Life acquired shares of PNB Housing Finance worth how much?

Correct Answer: 90 Crore

🚀 Quick Recap:

About PNB

CEO : Atul Kumar Goel
Headquarters: New Delhi