A US-based private equity firm is likely to sell up to a 6.4% stake in a housing finance company through an open market transaction on Tuesday.
According to a term sheet, an entity of the private equity firm will sell 1.66 crore shares at a floor price of ?775 per share, aiming to raise approximately ?1,256 crore. The floor price represents a 5% discount to the previous day’s closing price of ?794.90.
The housing finance company’s stock has underperformed this year, with a gain of only 1.2%, compared to a 13% rise in the benchmark index. As of June 30, 2024, the private equity firm held a 32.68% stake in the company.
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