Major Stake Shifts in PNB Housing Finance Spark Market Interest

Morgan Stanley, Societe Generale, and Ghisallo Master Fund together acquired a significant stake in PNB Housing Finance through market transactions. While Morgan Stanley took a 5.4% stake, Societe Generale and Ghisallo Master Fund purchased 17.09 lakh and 17.90 lakh shares, respectively. Carlyle Group sold a large portion of its stake, reducing it to 10.44%.

Significant market maneuvers marked Wednesday as Morgan Stanley, Societe Generale, and Ghisallo Master Fund collectively acquired a 6.82% stake in PNB Housing Finance, through open market transactions valued at Rs 1,664 crore.

Morgan Stanley notably increased its holdings via its Singapore arm, securing a 5.4% stake, while Societe Generale and Ghisallo Master Fund picked up over 17 lakh shares each, aligning with strategic interests.

Simultaneously, Carlyle Group divested a substantial portion of its holdings, offloading 9.43% of shares for Rs 2,301.58 crore, dramatically reducing its stake from 19.87% to 10.44%, sparking investor speculation and affecting share prices which closed lower at Rs 915.35.

(With inputs from agencies.)