The government is looking at the issue and is awaiting Securities Appellate Tribunal order due on July 5
PNB Housing should have engaged an independent valuer
Results not allowed to be disclosed; Tribunal allows Tuesday EGM to go ahead
Sebi has directed the company to undertake valuation of shares by an independent registered valuer as per the provisions of applicable laws
Regulator wants report by independent valuer
Market regulator says proposed Rs 4,000 crore share transfer is against the laws.
In May, PNB Housing Finance had announced that it will raise Rs 4,000 crore from a clutch of investors, led by existing stakeholder Carlyle group, by way of issuing preference shares and warrants
This comes amid concerns raised in certain quarters about its proposed deal with Carlyle group
This forms part of the proposed deal to invest Rs 4,000 crore in the company through a preference issue
Issue price arrived at after valuation by a CA, firm adds
The deal has split proxy advisory firms, which expressed divergent views on the proposed infusion in PNB Housing
Governance watchdog recommends shareholders vote against the PNB Housing's board resolution approving preferential allotment.
The fact that the capital raising plan was nearly double than what the Street had expected (Rs 1,800 crore) has helped the counter jump a massive 279 per cent from its 52-week low level
The announced large equity infusion should significantly improve the confidence of fixed income and equity markets and bring PNB Housing Finance back on the growth path, Morgan Stanley said
GDP shrinks by 7.3 percent in FY 2020-21, Carlyle Group to acquire a controlling stake of over 50 per cent in PNB Housing Finance. Top news this morning.
Aditya Puri to come on board; Carlyle to appoint chairperson
A Price-volume breakout above Rs 475 level, logged on May 31, may result in a rally towards Rs 550 and Rs 580-mark in PNB Housing Finance
Carlyle has agreed to invest up to Rs 3,185 crore through a preferential allotment of equity shares and warrants, at a price of Rs 390 per share
Aditya Puri, former CEO of HDFC Bank will also infuse capital transactions.
CA Emerald Investments, an affiliate of Carlyle Asia Partners, sold a total of 4.23 million shares for Rs 4,061 crore