Private Equity

Liquidity Events

General Atlantic sells Rs.1,069-Cr worth shares of PNB Housing

The Print  

US private equity firm General Atlantic has sold its entire stake worth INR 1,069 crore (USD 127.40 million) in mortgage lender PNB Housing Finance. The company, which had a 5.1% stake in PNB Housing as of June 30, sold 13.3 million shares for INR 802.50 apiece.The Singapore government and India’s Aditya Birla Sun Life Mutual Fund were among the biggest buyers in a list that also included Fidelity Investments, Goldman Sachs, Morgan Stanley and Nomura.General Atlantic initially invested in PNB Housing as an institutional buyer during the home financier’s initial public offering in 2016, picking up a stake worth INR 46.7 crore. The equity investor, which had increased its holdings through subsequent investments, sold a 2.2% stake for about INR 422 crore in May.