PNB advises Housing arm to rejig Carlyle deal as per Sebi order

PNB Housing to await SAT's order before taking a call on restructuring

Punjab National Bank (PNB) has advised its housing finance arm to restructure its fundraising deal with investors, led by the Carlyle Group, in accordance with the recent directive by the Securities and Exchange Board of India (Sebi). However, PNB Housing Finance has decided to wait for the Securities Appellate Tribunal’s (SAT) order, expected to be pronounced on July 12.

A day before the scheduled hearing of SAT on July 5, PNB wrote to PNB Housing Finance, asking it to take cognisance of Sebi’s June 18 directive and consider restructuring the contours of the deal in line with the market regulator’s order.