Shares of PNB Housing Finance Ltd. fell nearly 7% on Thursday after 5.2% equity changed hands in a bunch.

The home loan provider had 13.6 crore shares changed hands at Rs 773 apiece in a bunch trade, Bloomberg reported. The total of the stake sale is over Rs 10,512 crore.

Foreign portfolio investors Asia Opportunities V (Mauritius) Ltd. and General Atlantic Singapore Fund FII Pte. were the likely sellers, Bloomberg reported, quoting the term sheet for the large trade.

The floor price is at an 8% discount to the previous close of Rs 840 apiece. BNP and UBS are joint placement agents for the sale of stakes, according to Bloomberg.

As of March 2024, Asia Opportunities held a 9.88% stake in the housing finance company and General Atlantic held 9.82%. The same companies had divested on May 29 over 58 lakh shares each of PNB Housing Finance shares (2.23% equity) for an aggregate amount of Rs 844 crore.