PNB HF scraps Rs 4K-crore deal with Carlyle-led group of investors

Protracted litigation, uncertainty reasons for move: Firm

Fed up with the protracted litigation and uncertainty over approvals, the board of PNB Housing Finance (PNB HFC) decided to drop plans for a preferential issue of equity shares to raise Rs 4,000 crore from a group of investors led by private equity fund Carlyle.

The firm informed the stock exchanges on Thursday that Carlyle and other investors will also withdraw their open offer to PNB HF shareholders.

The fundraising plan, which included a preferential allotment of Rs 3,200 crore worth of shares and Rs 800 crore worth of warrants, had run into controversy after a proxy advisory firm raised