U.S. private equity firm General Atlantic on Wednesday sold its entire stake worth 10.69 billion rupees ($127.40 million) in India’s PNB Housing Finance (PNBH.NS), opens new tab, stock exchange data showed.
Shares of the mortgage lender closed 10.1% higher on Wednesday.
The company, which had a 5.1% stake in PNB Housing as of June 30, sold 13.3 million shares for 802.50 rupees apiece, a discount to the stock’s closing price of 810.90 rupees on Tuesday.
Source: REUTER
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