InvestorQ : Why has SEBI asked PNB Housing to halt its share sale program?
Neelam Naik made post

Why has SEBI asked PNB Housing to halt its share sale program?

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Anu Biswas answered.
6 months ago
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SEBI has instructed PNB Housing to halt its proposed share sale to Carlyle worth Rs.3,185 crore. Proxy advisor, SES, had point out that the plan was ultra vires the AOA of PNB Housing as the deal would hamper the interests of minority shareholders of PNB Housing. SES suggests that the capital issue be done through rights issue, which would be fair to minority shareholders.

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