No error of judgment in PNB Housing-Carlyle deal: PNB MD Mallikarjuna Rao

Subsequent rise in share prices of the mortgage lender post the announcement could not have been anticipated, he asserts

There was no error of judgment while finalising the fundraising plan for PNB Housing Finance (PNBHFL), and the subsequent rise in share prices of the mortgage lender post the announcement could not have been anticipated, PNB MD CH S S Mallikarjuna Rao said.

“If you have seen the share price of PNB Housing Finance in the last 2-2.5 years, it was hovering at below rate. ICDR guidelines clearly indicate for the listed companies the kind of formula to be used for pricing. As on the date of taking a decision, it would never have been thought by anyone that the