pnb housing finance: CCI approves acquisition of equity stake by Carlyle in PNB Housing Finance indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
The hearing before SAT, which was adjourned on July 5, is scheduled for July 12.
“The board of the company, by a majority resolution passed on July 6, 2021, decided that since the issue involved relates to interpretation of law and is sub-judice, before the Hon’ble Securities Appellate Tribunal (“SAT”), the Board will await the SAT’s order on this issue,” PNB Housing said in a regulatory filing Wednesday.
PNB board, after deliberating on the issue on July 3 on the basis of a legal opinion obtained from a law firm, told PNB Housing to “take cognizance of the directive issued by SEBI vide their letter dated June 18, 2021 and reconsider restructuring the contours of the deal/transaction of the capital raising in line with such SEBI directive”.
PNB Housing-Carlyle deal: PNB Housing, parent firm differ view on Carlyle deal recast indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Mumbai | Kolkata: PNB Housing Finance’s two-year-long wait for capital was about to end this month. But uncertainty surrounds the fundraising plan as the mortgage lender battles allegations of short-changing minority investors and bypassing procedures to benefit a few.
The proposal to raise Rs 4,000 crore in a share sale structure that aimed to balance the need for funds to grow and overcome investment curbs faced by parent
Punjab National Bank (PNB) is facing scrutiny on whether it ticks all the boxes on governance and legal compliance.
The board of PNB Housing on May 31 approved placement of 82 million preferential equity shares and 20.5 million share warrants with Pluto Investments, a Carlyle Group company, Salisbury Investments, the family investment vehicle of former HDFC Bank MD Aditya Puri, General Atlantic Singapore Fund FII and Alpha Investments V. Carlyle led the infusion with 80 per cent contribution.
In order to continue its focus on core pharma business, Strides Pharma Science will be demerging its biotech business under Stelis Biopharma, said a top company official. The Board will form a Committee of Directors to explore various options of value discovery including listing of the business. “The biopharma business needs a lot of capital. At Strides, if we continue to put that capital in Stelis, it would be a challenge on our balance sheet. Our core business is growing extremely well particularly in regulated markets such as the US so we would want to continue to focus on where the growth is and not get distracted by businesses that need longer gestation periods. Hence, the decision is to demerge and list it as a separate company,” said R Ananthanarayanan, Managing Director & Chief Executive Officer of the Bengaluru-headquartered pharma company.