In a setback to PNB Housing Finance, the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi) are reportedly looking into ‘regulatory issues’ related to the proposed Rs 4,000 crore-investment by US-based private equity firm Carlyle and others in the housing finance firm.
A PTI report quoting sources said that the concerns of minority shareholders, corporate governance and other regulatory aspects would be looked into by the two regulators. The news led to shares of PNB Housing Finance slumping 5 per cent to close at Rs 776.85 on the BSE on Monday.
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Late last month, PNB Housing Finance had announced that the Carlyle group will lead a Rs 4,000-crore capital infusion in the firm with other investors that include Aditya Puri, the former MD and CEO of HDFC Bank. Pluto Investments, an affiliated entity of Carlyle Asia Partners IV, LP and Carlyle Asia Partners V, LP, will invest up to Rs 3,185 crore through a preferential allotment of equity shares and warrants, at a price of Rs 390 apiece.