Investment firm Carlyle is looking to sell its 33% holding in PNB Housing Finance, reported The Economic Times.

The deal would yield Carlyle a return that is several times higher than what they invested three years ago, the report said quoting sources.

PNB Housing Finance, which listed in Mumbai in November 2016 after an Rs 3,000-crore initial public offer, has seen its market value almost double since then, added the report.

The investment firm that initially bought 49% stake in the company in 2015 for Rs 1,600 crore now owns 33% stake, said the daily.

The firm may mandate Morgan Stanley to lead the deal, according to the report.

Besides Carlyle, Punjab National Bank, (PNB) the parent company of PNB Housing Finance, is also go for a sale of its holdings, the report said.

The development comes as PNB informed the stock exchange last week that it will take decisions based on market situation regarding the disinvestment of its stake in PNB Housing Finance, ICRAN, CRISIL and BSE, added the report.

First Published:Jun 11, 2018 9:36 AM IST