PNB HFC raising up to Rs 4,000 cr in equity; Carlyle group among investors

A clutch of buyers led by non-public fairness agency Carlyle group will elevate as much as Rs four,000 crore for PNB Housing Finance Firm.

Pluto Investments, an affiliate of Carlyle Asia Companions IV, L.P. and Carlyle Asia Companions, has invested as much as Rs three,185 crore by a preferential allotment of fairness shares and warrants, at a value of Rs 390 per share. Aditya Puri, former chief govt of HDFC Financial institution can even infuse capital transactions by the household funding agency.

PNB Housing’s board has authorized a capital elevate of as much as Rs four,000 crore, stated the corporate in an announcement filed with BSE. Its inventory was buying and selling up 20 per cent at Rs 525.2 per share on BSE.

The corporate’s current shareholders are taking part within the capital elevate as nicely. PNB Housing will proceed to be the promoter and a key stakeholder within the Firm. The transaction is topic to customary regulatory approvals in addition to shareholder approval.

This proposed transaction would additionally set off an open supply by Pluto Investments to buy as much as 26 per cent fairness shares of PNB HFC from public shareholders.

PNB Housing is the fourth largest housing finance firm in India when it comes to mortgage belongings (Rs 62,255 crore as of March 31, 2021), and the second largest in deposits (Rs 17,129 crore as of March 31, 2021).

Ares SSG and Normal Atlantic are managing the fund elevating.

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