US private equity firm Carlyle Group has sold its entire 10.44% stake in India’s PNB Housing Finance, via block deals, according to an exchange filing on Friday.
Carlyle was the second-largest shareholder in the non-banking finance company and held its stake via an affiliate called Quality Investment Holdings, the filing said.
The PE firm made its first investment in the mortgage lender in 2015. Shares of PNB Housing closed up 4.14% on Friday.
Reuters
