BENGALURU : Shares of India's PNB Housing Finance Ltd fell 5per cent on Monday to their lowest since early June after the mortgage lender scrapped a fund-raising deal with a group of investors, led by private-equity firm Carlyle Group.
The deal had been challenged by the SEBI following an institutional investment advisory firm's statement that the deal was unfair to minority shareholders. The regulator had asked the company to stall it until it undertook an independent valuation. "There continues to be no visibility or certainty as to the timeline for judicial determination of the legal issues," PNB Housing Finance said on Thursday.
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