Read more about PNB Housing hits 52-week high; soars 88% in seven days on Business Standard. PNB Housing Finance hit an upper circuit of 10% at Rs 762.50 on BSE, extending its winning run to seventh consecutive trading session.
Read more about Top Headlines: GDP shrinks by 7.3%, fiscal deficit drops below target on Business Standard. GDP shrinks by 7.3 percent in FY 2020-21, Carlyle Group to acquire a controlling stake of over 50 per cent in PNB Housing Finance. Top news this morning.
Shares of PNB Housing Finance were locked in the upper circuit of 20 per cent for the second straight day, hitting a fresh 52-week high of Rs 630.20 on the BSE in Tuesday s trade after the company on Monday said the private equity firm Carlyle Group and associates will acquire stake by investing in the Rs 4,000 crore preferential issue of equity and warrants of the company. Pluto Investments, an affiliate of Carlyle Asia Partners, will invest up to Rs 3,185 crore through a preferential allotment of equity shares and convertible warrants at Rs 390 per share, for a 30.2 per cent in PNB Housing Finance’s expanded capital.
PNB Housing Finance will raise Rs 4,000 crore from The Carlyle Group.
Shares of the country s leading mortgage lender - PNB Housing Finance - were locked in 20 per cent upper circuit for second session in a row on Tuesday at fresh 52-week high of Rs 630.20. In the last two trading sessions the stock has gained 44 per cent after the company informed exchanges on Monday that its board has approved raising Rs 4,000 crore from the entities of US-based The Carlyle Group. Pluto Investments S.a.r.l., an affiliated entity of Carlyle Asia Partners IV, L.P. and Carlyle Asia Partners V, L.P. (together, Carlyle ) has agreed to invest up to Rs 3,185 crore through a preferential allotment of equity shares and warrants, at a price of Rs 390 per share. Existing shareholders of the company, funds managed by Ares SSG and General Atlantic, are also participating in the capital raise. PNB will continue to be the promoter and a key stakeholder in the company, PNB Housing Finance said in a press rele