Swarna Shukla –
Published On: October 21, 2021 at 14:30 IST
The Supreme Court dismissed the Appeal as ”infructuous” filed by capital markets regulator the Securities and Exchange Board of India (SEBI) against the Securities Appellate Tribunal Order in a matter related to its Rs 4,000-crore equity capital raise plan.
PNB Housing Finance board of directors decided to ‘’not proceed with the preferential issue and terminate the share subscription agreements’’ with the proposed allottees.
PNB Housing Finance informed about scrapping the Rs 4,000-crore share-sale plan to US-based private equity firm Carlyle Group and others.
Under the proposed deal, Pluto Investments S.a.r.l., a subsidiary of Carlyle, and Salisbury Investments Pvt Ltd were to acquire an equity stake in PNB Housing Finance.
Salisbury is a non-banking finance company primarily engaged in the business of making investments in financial securities.
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