 "pnb housing")
PNB Housing Finance says it has got a letter from India’s markets regulator asking the company to hold its Rs 4,000-crore share allotment to a clutch of companies led by The Carlyle Group.
Securities and Exchange Board of India (Sebi) is studying PNBHF’s Rs 4,000 crore share sale after a proxy adviser said earlier this month the deal is unfair to the mortgage lender’s minority shareholders.
The deal would make Carlyle, a US-based private equity giant, a majority shareholder in the company and bring down the stake of state-owned Punjab National Bank in its housing finance subsidiary to under 26
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