PNB Housing Finance to restructure `4,000 cr capital infusion deal

New Delhi: PNB Housing Finance on Wednesday said its promoter Punjab National Bank has asked it to consider restructuring the proposed Rs 4,000 crore capital infusion deal led by US-based Carlyle group.

The housing financier also said it will await the Securities Appellate Tribunal's order on the issue before taking a final decision.

PNB Housing Finance said it received a letter from PNB on July 4 and subsequent to that the board of the company met on July 5 and 6, 2021.

"The PNB letter had conveyed a decision taken by the board of directors of PNB at their meeting held on July 3, 2021," PNB Housing Finance said in a regulatory filing.

The state-owned lender took a legal opinion from a law firm and deliberated the matter in its board meeting, it said.

The letter from the bank said "the board of directors of the company should take cognizance of the directive issued by Sebi vide their letter dated June 18, 2021 and reconsider restructuring the contours of the deal/transaction of the capital raising in line with such Sebi directive," PNB Housing said in the filing.

Sebi had asked the company for revaluation of the issue price for the Rs 4,000 crore preference shares and warrants to be issued to the proposed investors at Rs 390 a piece.