 "PNB housing finance, Punjab national bank")
Rating agencies have flagged primacy for PNB Housing Finance (PNB HFC) to raise equity capital amid rising delinquencies.
The company’s plan to raise Rs 4,000 crore from Carlyle and other investors faced a setback after the Securities and Exchange Board of India raised questions on the method of pricing shares and the Securities Appellate Tribunal gave a split verdict on valuation. Rating agency CRISIL said a delay in equity fund raising could impact the plans of the company to reduce leverage further and also to grow its loan books.
India Ratings said capital infusion was critical in providing adequate buffers for growth
