IndusLaw Advises UBS Securities India Private Limited On INR 8.3 Billion Stake Sale In PNB Housing Finance Limited
Indus Law advises UBS Securities India Private Limited in relation to a stake sale in PNB Housing Finance Limited by Asia Opportunities V (Mauritius) Limited and General Atlantic Singapore Fund FII Pte Ltd through a block deal.
The deal, valued at INR 8.3 billion (USD 100 million), involved the sale of shares worth Rs 830 crore by the two funds. Asia Opportunities V (Mauritius) Limited and General Atlantic Singapore Fund FII Pte Ltd proposed to sell 1.08 crore shares which represented 4.16% of the total equity of PNB Housing Finance Limited.
The core deal team from IndusLaw comprised Manshoor Nazki (Partner) and Ayushi Tiwari (Associate).
In addition to IndusLaw, Allen & Overy Shearman Sterling LLP acted as the US counsel for the broker. BNP Paribas and UBS Securities were the bankers for the deal.
UBS Securities India Private Limited is an investment bank which provides a wide range of financial services including securities trading, asset management, and advisory services.
PNB Housing Finance Limited is a prominent housing finance company which offers housing loans, construction finance, and other financial products to individuals and developers.