PNB Housing Finance board to take call on fundraising on March 9
Mortgage lender PNB Housing Finance’s board would take a call on raising capital, including through rights issue, next week after a failed attempt to garner Rs 4,000 crore by selling stake to Carlyle Group last year.
A meeting of the Board of Directors of PNB Housing Finance Limited is scheduled to be held on March 9 to consider fund raising options by issue of equity shares through appropriate methods (including rights issue), subject to requisite approvals, the company said in a regulatory filing on Friday.
“Pursuant to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, as amended, and the Insider Trading Policy of the Company, the trading window for dealing in the securities of the company is closed from March 5, 2022 to March 11, 2022 for the designated persons,” it added.
PNB Housing Finance had decided to sell a part of its stake to a group of investors led by private equity firm Carlyle in May.
Soon after, it was mired in a controversy with regard to the valuation of shares being offered to the investors. Subsequently, the matter reached the Securities Appellate Tribunal (SAT) after the intervention of markets regulator Sebi.
In October last year, the company nixed the proposal of raising Rs 4,000 crore due to the legal battle.