Shares of PNB Housing Finance Ltd. fell 5% on Monday to their lowest since early June after the mortgage lender scrapped a fund-raising deal with a group of investors, led by private-equity firm Carlyle Group.
PNB Housing Finance said Thursday that it had ended the deal, which was announced in May to issue shares worth ₹40 billion to Carlyle-led investors, after a long legal battle with the Securities and Exchange Board of India (SEBI).
The deal had been challenged by the SEBI following an institutional investment advisory firm’s statement that the deal was unfair to minority shareholders.
ADVERTISEMENT
This is a Premium article available exclusively to our subscribers. To read 250+ such premium articles every
month
You have exhausted your free article limit.
Please support quality journalism.
You have exhausted your free article limit.
Please support quality journalism.
The Hindu operates by its editorial values to provide you quality journalism.
You have read {{data.cm.views}} out of {{data.cm.maxViews}} free articles.
This is your last free article.