India's carlyle group falls 5% after mortgage lender scrapped deal

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India's carlyle group falls 5% after mortgage lender scrapped deal

BENGALURU, Oct 18 Reuters - Shares of India's carlyle group fell 5% on Monday to their lowest levels since early June after the mortgage lender scrapped a fund-raising deal with a group of investors led by private equity firm PNB Housing Finance Ltd.

com xml data corpfiling AttachHis 878 e 5 bde - 95 d 3 - 41 cc-b570 - b 31450 e 63 b 56. pdf late Thursday that it had ended the deal, announced in May to issue shares worth 40 billion rupees $533.2 million to Carlyle-led investors after a months-long legal battle with the Securities and Exchange Board of India The deal was challenged by the SEBI following an institutional investment advisory firm The regulator had asked the company to stall it until it undertook an independent valuation.

SEBI had challenged the order by approaching Indian Securities Appellate Tribunal SAT SAT in August delivered a split verdict, restricting the company from disclosing the results of shareholder votes on the deal.

There continues to be no visibility or certainty as to the timeline for legal determination of the judicial issues, PNB Housing Finance said on Thursday.

In a note, ICICI Securities said that concerns about asset quality and growth have re-emerged with deal being called off.

After MNB Housing Finance announced in May, the stock of PNB Housing Finance sat more than doubled to a two-year high of 925 rupees. It has since given up a portion of those gains and last traded at 606.75 rupees.