Mumbai: Shares of PNB Housing Finance Ltd have surged over 100% in the last nine trading sessions following announcement by US private equity giant The Carlyle Group and banking veteran Aditya Puri to invest in the firm. A consortium of investors, led by The Carlyle Group and former HDFC Bank Ltd chief executive Aditya Puri, will invest ₹4,000 crore in PNB Housing Finance Ltd. The capital infusion will make Carlyle the largest shareholder in PNB Housing. Existing shareholders, including a fund managed by Ares SSG, will invest ₹400 crore, and private equity firm General Atlantic will invest ₹390 crore. The brokerage firm has upgraded the stock to OverweightCarlyle is an existing investor in the mortgage financier, owning a 32.21% stake through group firm, Quality Investment Holdings.

Source: Mint June 07, 2021 04:52 UTC