HDFC Standard Life Insurance Company Ltd bought shares of PNB Housing Finance worth Rs 90 crore via an open market transaction. According to data from the BSE, HDFC Standard Life acquired over 10 lakh shares, amounting to a 0.4 per cent stake in PNB Housing Finance, at an average price of Rs 900 per share.
The transaction also saw foreign investor Asia Opportunities V (Mauritius) Ltd reduce its stake in PNB Housing Finance by selling shares at the same price. This sale brought Asia Opportunities V’s stake down to 0.94 per cent from 1.34 per cent.
Earlier this year, Asia Opportunities V (Mauritius) has been steadily paring its investment in PNB Housing Finance, offloading a 3 per cent stake in August for over Rs 676 crore and a cumulative 4.46 per cent stake in May in collaboration with General Atlantic, generating Rs 843 crore in total.
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This acquisition marks a notable move for HDFC Standard Life as PNB Housing Finance sees changes in its shareholder base amid ongoing stake adjustments by foreign investors.
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