Shares of PNB Housing Finance have jumped over 60 per cent in three trading sessions. Aditya Puri is going to join the board of this company.
Aditya Puri was formerly the head of HDFC Bank.
The country’s leading bank Aditya Puri’s name is associated with PNB Housing Finance Ltd, the housing finance company of Punjab National Bank, the country’s second largest public sector bank. As soon as his name was added, its stock has jumped by almost 60 percent in the last three days. In such a situation, the big question arises whether they will bring similar improvement in the performance of the bank? Right now the market feels the same way.
Aditya Puri retired from HDFC Bank in November 2020. He was associated with this bank for 26 years. After that he joined global private equity firm Carlyle Group as Senior Advisor. On Monday, PNB Housing Finance said in the information given to the stock market that a consortium led by American equity firm Carlyle Group will invest 4000 crores. Aditya Puri will also invest in the bank. According to the news of Money Control, Carlyle Group will induct Aditya Puri on the board of directors in Punjab National Bank Housing Finance.
Carlyle Group’s stake will be around 50 percent
Explain that after this deal, this investment firm will have the largest stake in PNB Housing. After the deal, Carlyle’s stake will be around 50 per cent and PNB’s stake will come down to 20 per cent. Presently the shareholding of Punjab National Bank is 32.64 percent. Talking about FII, Investment Opportunities V Pte. Limited holds 9.92 percent and General Atlantic holds 9.86 percent.
Preparing to compete with HDFC
In this way, Aditya Puri is preparing to compete with HDFC, the mother company of his former employer, through Punjab National Bank Housing Finance within a year. The market has liked this news due to which the shares of PNB Housing jumped up to 60 percent in just three days.
AUM of about 75 thousand crores
Talking about the current status of PNB Housing Finance, its total asset under management is 74469 crores. The AUM of HDFC is Rs 569894 crore. HDFC is the leader in this segment. Its market share in housing finance is more than two-thirds. PNB Housing Finance is at number four in this list. LIC HFL (Asset Under Management 2.13 Lakh Crore) and IndiaBulls (Asset Under Management 80,741 Crore) are second in this list.
Policy changes expected
Former SBI chairman Rajnish Kumar said that Aditya Puri is a big name in the world of banking. He said that if his name is linked with PNB Housing, then it will definitely change. The bank will change its policy and it is likely to have a positive impact. The housing finance market in India is not yet fully open, so there are many possibilities for it.
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