Carlyle had invested Rs 1,600 crore in February 2015 for a 49 per cent stake in the unlisted company.“Private-equity fund Carlyle has put a 10 per cent stake on the block in PNB Housing Finance and is looking to sell it in the next 12-18 months,” said a source close to the development.The listed mortgage lender has a market capitalisation of Rs 22,242 crore. Carlyle’s 37.55 per cent stake is worth Rs 8,351 crore in the listed subsidiary. A 10 per cent stake sale would fetch Carlyle Rs 2,224 crore at current market prices.Carlyle did not comment on the proposed stake dilution. Sanjaya Gupta, managing director of PNB Housing Finance, also said that he would not like to comment as it is a subject involving shareholders.PNB Housing Finance is the second largest deposit taking housing finance company and Carlyle is its largest shareholder, followed by Punjab National Bank (PNB) that owns 33 per cent. Shares of the company declined 1.22 per cent to Rs 1,335.20 on the Bombay Stock Exchange Wednesday.

Source: Economic Times April 12, 2018 05:26 UTC