HDFC Standard Life buys PNB Housing Finance's shares worth Rs 90 crore

HDFC Standard Life Insurance Co on Tuesday bought shares of PNB Housing Finance worth Rs 90 crore through an open market transaction.

According to the block deal data available on the BSE, HDFC Standard Life Insurance Company Ltd purchased a little over 10 lakh shares or 0.4 per cent stake in PNB Housing Finance.

The shares were picked up at an average price of Rs 900 apiece, taking the transaction value to Rs 90 crore.

Meanwhile, a foreign investor Asia Opportunities V (Mauritius) Ltd trimmed its stake by offloading shares of PNB Housing at the same price.

After the transaction, Asia Opportunities V holding in PNB Housing has come down to 0.94 per cent from 1.34 per cent.

Shares of PNB Housing Finance rose 2.33 per cent to close at Rs 922.80 apiece.

In August this year, Asia Opportunities V (Mauritius) offloaded a 3 per cent stake in PNB Housing Finance for over Rs 676 crore.

Before that, in May, Asia Opportunities V (Mauritius) and General Atlantic divested a cumulative 4.46 per cent stake in PNB Housing Finance for Rs 843 crore.