PNB Housing Finance Limited has informed the Exchange regarding resignation of Mr Sunil Kaul as non-executive Nominee Director on the Board of the company w.e.f. May 02, 2025.
PNBHOUSING · price
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Mr. Sunil Kaul has resigned as a non-executive Nominee Director on the board of PNB Housing Finance effective May 02, 2025. The resignation follows Quality Investment Holdings Pcc (QIH) selling its entire stake of 2,71,24,311 equity shares, representing 10.44% of the company's paid-up equity share capital, through an on-market transaction on the same day. As a result, QIH withdrew Mr. Kaul's nomination from the board. The intimation has been filed under SEBI LODR Regulations 30 and 51, and the company confirmed the resignation details as per the prescribed SEBI circular.
A 10.44% institutional investor (QIH) has fully exited PNB Housing Finance via an on-market block sale, which is a significant shareholding change. Shareholders should watch for any price impact from the large block sale and any potential change in the company's strategic direction following the exit of a major institutional shareholder.