As Carlyle deal hits legal hurdle, PNB Housing plans Rs 35k-cr debt capital

Preferential allotment will be made post receipt of regulatory, shareholders and legal approval, says mortgage lender

PNB Housing Finance (PNB HFL) will raise Rs 35,000-crore debt as its deal with Carlyle Group has hit a legal hurdle, with the Securities Appellate Tribunal (SAT) pronouncing a split verdict on the matter.
 
The mortgage lender will seek shareholders’ approval for the fundraising at its annual general meeting scheduled on September 3, it said in a regulatory filing. An approval has been sought to issue redeemable, secured or unsecured non-convertible debentures aggregating to Rs 35,000 crore in one or more tranches.
 
This comes two days after SAT gave a split verdict to the lender’s appeal against the