Neeraj Vyas was recently elevated from an independent director to managing director and chief executive officer (MD & CEO) of PNB Housing. He spells out a strategy to shield the housing financier from jolts as seen in the past.
He reiterates that the promoter, Punjab National Bank (PNB), and Carlyle have shelved their plans to sell their stake in the company. "PNB will not let their stake fall below 26 per cent," Vyas added. PNB Housing is due to roll out its rights issue of Rs 1,700 crore, which will find participation from PNB and Carlyle.
As for the business strategy, a