+
SEBI directs PNB Housing Finance to halt fundraising plan
ECONOMY & POLICY

SEBI directs PNB Housing Finance to halt fundraising plan

India’s capital market regulator directed Punjab National Bank Housing Finance to halt its proposed fund-raising plan by a group of investors led by Carlyle Group Income.

According to a stock exchange filing on Saturday, the Securities and Exchange Board of India (SEBI) said that PNB Housing’s plan to issue securities through preferential allotment on a private placement basis shouldn’t be carried out until it undertakes the valuation of shares by an independent registered valuer.

Shares of PNB housing fell after the order of India’s capital market regulator.

PNB housing said that the company has filed an appeal before the Securities Appellate Tribunal against the letter issued by the Securities and Exchange Board of India on June 18, 2021.

PNB housing finance said it has acted in compliance with all appropriate applicable laws and is evaluating steps further.

The housing company further added that the independent valuer’s report shall be considered by the company’s board while deciding on the preferential issue of shares and warrants.

According to a media report, the SEBI was investigating the investment plan after proxy advisory firm Stakeholders Empowerment Services (SES) explained the proposed deal as unfair for PNB Housing minority shareholders. The mortgage lender could have raised funds by a rights issue.

Image Source


Also read: RBI, SEBI to review PNB Housing Finance’s plan to raise Rs 4,000 cr

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

India’s capital market regulator directed Punjab National Bank Housing Finance to halt its proposed fund-raising plan by a group of investors led by Carlyle Group Income. According to a stock exchange filing on Saturday, the Securities and Exchange Board of India (SEBI) said that PNB Housing’s plan to issue securities through preferential allotment on a private placement basis shouldn’t be carried out until it undertakes the valuation of shares by an independent registered valuer. Shares of PNB housing fell after the order of India’s capital market regulator. PNB housing said that the company has filed an appeal before the Securities Appellate Tribunal against the letter issued by the Securities and Exchange Board of India on June 18, 2021. PNB housing finance said it has acted in compliance with all appropriate applicable laws and is evaluating steps further. The housing company further added that the independent valuer’s report shall be considered by the company’s board while deciding on the preferential issue of shares and warrants. According to a media report, the SEBI was investigating the investment plan after proxy advisory firm Stakeholders Empowerment Services (SES) explained the proposed deal as unfair for PNB Housing minority shareholders. The mortgage lender could have raised funds by a rights issue. Image Source Also read: RBI, SEBI to review PNB Housing Finance’s plan to raise Rs 4,000 cr Also read: PNB Housing set to raise around Rs 4,000 cr from Carlyle, others

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?