Shares of PNB Housing Finance dipped over 2 percent in early morning trade on Tuesday after the business clarified that it is not knowledgeable about any talks concerning sale of controlling stake to HDFC or Kotak Mahindra Bank.The scrip was trading 2.32 percent down at Rs 1,195 on BSE at around 9.55 am (IST).
Shares of the business opened at Rs 1,200 and touched a low and high of Rs 1,212 and Rs 1,180, respectively, in trade up until now.
Benchmark BSE Sensex rubbed out its preliminary losses and was trading 47 points, or 0.13 percent, up at 35,516 at around the exact same time.
We wish to state that the company is not knowledgeable about any such negotiations.
The business does not have any information on the news product pubished, PNB Housing Finance stated in a BSE filing.According to a report by TheIndianSubcontinent released on June 25, HDFC and Kotak Mahindra Bank are contending for a controlling stake in PNB Housing Finance as they aim to acquire larger protection in a home loan market thats seen amongst the safest of havens in the loaning world.The report further added that the offer is anticipated to bring them about Rs 6,000 crore each.
HDFC and Kotak Bank met the management of PNB Housing Finance last week to talk about purchasing out personal equity fund Carlyles entire stake of around 33 per cent and another 33 per cent on block from PNB, the report stated.