PNB Housing set to raise around Rs 4,000 cr from Carlyle, others
Real Estate

PNB Housing set to raise around Rs 4,000 cr from Carlyle, others

PNB Housing Finance told the media that the board has approved a capital raising plan of Rs 4,000 crore by preferential issue of equity shares and warrants.

Carlyle Asia Partners IV, LP, and Carlyle Asia Partners V, LP affiliated entity Pluto Investments, have accepted to invest up to Rs 3,185 crore by a preferential allotment of equity shares and warrants, at Rs 390 per share.

Ares SSG and General Atlantic are managing the funds and are also participating in capital raise.

PNB Housing Finance CEO and Managing Director Hardayal Parasd said that the current fundraising and intended strengthening of the Board and management team will allow us to stimulate our strategic priorities.

A mandatory open offer by Pluto Investments will be affected by the recommended transaction for the acquisition of up to 26% equity shares of PNB Housing from public shareholders.

Former CEO and MD of HDFC Aditya Puri family investment, Salisbury Investments are also investing in capital raise. Puri is foreseen to be chosen to the board of the PNB Housing Finance as a Carlyle nominee director in due course.

The main purpose of the capital raise is to increase capital sufficiency, decrease gearing and stimulate growth in the retail section. The capital adequacy ratio of the company as of 31 March 2021, would rise from 18.7% to above 28%, and gearing as of 31 March 2021.

Image Source


Also read: Shriram Housing Finance to get Rs 500 cr capital infusion

Also read: Parinee Realty raises over Rs 325 cr for commercial project in Worli

PNB Housing Finance told the media that the board has approved a capital raising plan of Rs 4,000 crore by preferential issue of equity shares and warrants. Carlyle Asia Partners IV, LP, and Carlyle Asia Partners V, LP affiliated entity Pluto Investments, have accepted to invest up to Rs 3,185 crore by a preferential allotment of equity shares and warrants, at Rs 390 per share. Ares SSG and General Atlantic are managing the funds and are also participating in capital raise. PNB Housing Finance CEO and Managing Director Hardayal Parasd said that the current fundraising and intended strengthening of the Board and management team will allow us to stimulate our strategic priorities. A mandatory open offer by Pluto Investments will be affected by the recommended transaction for the acquisition of up to 26% equity shares of PNB Housing from public shareholders. Former CEO and MD of HDFC Aditya Puri family investment, Salisbury Investments are also investing in capital raise. Puri is foreseen to be chosen to the board of the PNB Housing Finance as a Carlyle nominee director in due course. The main purpose of the capital raise is to increase capital sufficiency, decrease gearing and stimulate growth in the retail section. The capital adequacy ratio of the company as of 31 March 2021, would rise from 18.7% to above 28%, and gearing as of 31 March 2021. Image Source Also read: Shriram Housing Finance to get Rs 500 cr capital infusion Also read: Parinee Realty raises over Rs 325 cr for commercial project in Worli

Next Story
Infrastructure Energy

IndianOil NTPC Green Seeks Bifacial Modules for 750 MW Gujarat Solar

NTPC Green Energy (NGEL), acting on behalf of IndianOil NTPC Green (INGEL), has announced that it is inviting bids to supply photovoltaic (PV) modules for a 600 MW AC (750 MW DC) solar project located in Bhuj, Gujarat. INGEL is developing the project in two blocks, each with a capacity of 375 MWp.The successful bidders are required to supply bifacial PV modules with a minimum wattage of 570 Wp each for the entire 750 MWp project. The contract will include the production, supply, and transportation of open-category crystalline PV modules that are listed under the Approved List of Models and Man..

Next Story
Infrastructure Transport

India to Build First Polar Research Vessel in Kolkata with Norway Aid

India is poised to enhance its polar and ocean research capabilities by building its first polar research vessel (PRV). A significant step towards this was taken when Kolkata-based Garden Reach Shipbuilders and Engineers (GRSE) and Norway’s Kongsberg signed a memorandum of understanding (MoU) in Oslo on Tuesday to facilitate the construction of the vessel.GRSE, which has prior experience in building complex maritime platforms such as warships and survey vessels, will construct the PRV at its shipyard in Kolkata. This partnership represents a major milestone for India’s shipbuilding industr..

Next Story
Infrastructure Energy

Juniper Commissions 145.99 MWp Solar Project in Maharashtra State

Juniper Green Energy announced that it had commissioned its 145.99 MWp solar power project at Chapalgaon in Maharashtra, which will supply electricity to the Maharashtra State Electricity Distribution Company (MSEDCL).The plant was commissioned on May 22, 2025, completing the project 19 months ahead of the Scheduled Commercial Operation Date and only 2.5 months after the power purchase agreement (PPA) was signed on March 7, 2025. The project is set to operate at its full capacity of 145.99 MWp from the commissioning date.Ankush Malik, CEO of Juniper Green Energy, explained that early land acqu..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?