New Delhi: Shares of hit the upper circuit in early trade of Thursday after its promoter asked it to consider restructuring the proposed deal with the Carlyle group.
The housing financier also said it will await the Securities Appellate Tribunal’s order on the issue before taking a final decision. The US-based Carlyle group has proposed to infuse Rs 4,000 worth capital in the housing financier.
Shares of PNB Housing Finance soared 5 per cent, its daily circuit limit, to Rs 720.55 on Thursday. BSE Sensex was trading 50 points or 0.09 per cent lower at 53,004.88 at the time of writing this report. It settled at Rs 686.25 on Wednesday.
PNB Housing Finance said it received a letter from PNB on July 4 and subsequent to that the board of the company met on July 5 and 6, 2021.
“The PNB letter had conveyed a decision taken by the board of directors of PNB at their meeting held on July 3, 2021,” PNB Housing Finance said in a regulatory filing.
PNB housing has doubled investors’ money in the year 2021 so far. However, the housing finance firm has shed over 15 per cent in the last one month.
Sebi had asked the company for revaluation of the issue price for the Rs 4,000 crore preference shares and warrants to be issued to the proposed investors at Rs 390 a piece. The deal was announced on May 31, 2021.
However, the company had moved the Securities Appellate Tribunal (SAT) after the Sebi letter. The matter is scheduled for hearing on Monday, July 12.
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