PNB Housing Finance

PNB Housing Finance Limited is an Indian housing finance company. It was incorporated in 1988 as a subsidiary of Punjab National Bank. The company provides housing loans & loan against property as a part of its product portfolio and also holds the license to accept public deposits. The company's equity shares are listed on National Stock Exchange of India and Bombay Stock Exchange since November 2016.

History

PNB Housing Finance was incorporated under the Companies Act, 1956 and commenced its operations on 11 November 1988 as a wholly owned subsidiary of Punjab National Bank. In 2001, it registered with National Housing Bank.
On 9 December 2009, PNB entered into a strategic partnership with Destimoney Enterprises Private Limited and sold its 26% stake to DEPL. DEPL which held 49% shares in the company until February 2015 sold its entire shareholding to Quality Investments Holdings, which is owned by Carlyle Group, a global investment firm. The remaining 51% was owned by the parent bank i.e. Punjab National Bank.
In November 2016, the Company came out with a public issue of equity shares. Its equity shares are listed on National Stock Exchange and Bombay Stock Exchange with effect from 7 November 2016. Post the public issue, the promoters jointly hold 76% of shared in the company and the public shareholding stands at 24%.
On 30 March 2019, Punjab National Bank announced that it had signed an agreement to sell a 13.01% stake in PNB Housing Finance to private equity firm General Atlantic and alternative investment firm Varde Partners for.