ICICI Lombard General Insurance Company Limited — JV/Acquisition, 13-01-2025: Acquisition

ICICI Lombard has acquired a 0.37% stake in PNB Housing Finance Limited, valued at ₹0.04 billion, enhancing its investment portfolio in the housing finance sector. This strategic investment aligns with ICICI Lombard's ongoing investment activities and positions the company to leverage growth opportunities in the housing finance market. PNB Housing, incorporated in 1988 and promoted by Punjab National Bank, is the third-largest housing finance company in India, with 98% of its loan book in the retail segment, focusing on prime, emerging, and affordable sectors. In FY 2023-24, it reported a turnover of ₹70.57 billion.