Shares of PNB Housing Finance Ltd were locked in the lower circuit of 5 per cent at Rs 702.40 on the BSE in Monday’s session after the Securities and Exchange Board of India (Sebi) directed the company to halt its proposed Rs 4,000 crore deal with Carlyle group. The market regulator has also directed the company to undertake the valuation of shares by an independent registered valuer as per the provisions of applicable laws.
In the morning, a combined around 37,000 shares had changed hands and there were pending sell orders for 260,000 shares on the NSE and BSE combined. In comparison, the S&P BSE Sensex was down 0.53 per cent at 52,069 points.

The housing finance firm was planning to issue shares and warrants on a preferential basis to private equity firm Carlyle Group and associates, which were reported to be investing Rs 4,000 crore to acquire a controlling stake of over 50 per cent in the Delhi-based mortgage lender.

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The company was to hold an extraordinary general meeting of shareholders on June 22 to consider the preferential allotment of shares and warrants. The price of each share and a convertible warrant is Rs 390.

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PNB Housing Finance Ltd-View Detailed Analysis