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Shares of PNB Housing Finance were sharply higher in early trade on May 2 after a block deal saw 1.73 crore shares change hands, following Moneycontrol's report that a large trade could see Carlyle offload shares.

However, only half of the total block deal size of 2.74 crore shares was traded, reported CNBC-TV18.

The indicative price of the block was Rs 960 per share, which was a 5 per cent discount to the Rs 1,010.20/share close on April 30. Moneycontrol had reported on May 1 citing a termsheet that US private equity firm Carlyle was looking to sell 10.4 per cent stake in the housing finance company to raise up to $308 million,

A second person confirmed the above and added the seller is Quality Investment Holdings Pcc, an affiliate of Carlyle. A third person added that IIFL Capital is the advisor to the proposed block deal. All three persons spoke to Moneycontrol on the condition of anonymity.

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