BENGALURU, Aug 21 Reuters U.S. private equity firm General Atlantic on Wednesday sold its entire stake worth 10.69 billion rupees 127.40 million in India39;s PNB Housing Finance, stock exchange data showed.

Shares of the mortgage lender closed 10.1 higher on Wednesday.

The company, which had a 5.1 stake in PNB Housing as of June 30, sold 13.3 million shares for 802.50 rupees apiece, a discount to the stock39;s closing price of 810.90 rupees on Tuesday.

The Singapore government and India39;s Aditya Birla Sun Life Mutual Fund were among the biggest buyers in a list that also included Fidelity Investments, Goldman Sachs, Morgan Stanley and Nomura.

General Atlantic initially invested in PNB Housing as an institutional buyer during the Indian home financier39;s initial public offering in 2016, picking up a stake worth 467 million rupees.

The equity investor, which had increased its holdings in PNB Housing through subsequent investments, sold a 2.2 stake for about 4.22 billion rupees in May.

In July, U.S. investment firm Carlyle Group also offloaded a stake of about 13 in PNB Housing.

PNB Housing39;s shares have gained around 12 so far in 2024.

1 83.8810 Indian rupees

Reporting by Nishit Navin and Nandan Mandayam in Bengaluru; Editing by Shreya Biswas and Devika Syamnath

Source Reuters