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Shares of PNB Housing Finance hit over 1-year low on report of Carlyle's stake sale plan. The stock plunged as much as 6.3 per cent to Rs 1,063.50, lowest since March 15, 2017.
US private equity firm Carlyle Group is planning to sell its 33 per cent stake in PNB Housing Finance, a media report said citing people familiar with the matter.
The deal would yield a return several times the money Carlyle initially invested three years ago, the report added. PNB Housing Finance did not respond to a Reuters request for comment, while Carlyle declined to comment on the report.
Carlyle is the biggest shareholder in PNB Housing Finance with 37.14 per cent stake as on March 31, according to Thomson Reuters data.
More than 1 million shares changed hands against 30-day moving average of 441,601. Up to Friday's close, the stock had fallen 15.3 per cent this year.
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