PNB Housing Finance to raise Rs 4,000 Cr from Carlyle Group and others

PNB Housing Finance to raise Rs 4,000 Cr from Carlyle Group and others: Yesterday, On Monday PNB Housing Finance Ltd said that the company raising funds to, 4,000,000 crore ($551.6 million) in rounds, led by global private equity firm The Carlyle Group.

Carlyle’s subsidiary Pluto Investments will invest Rs 3,185 crore at Rs 390 per share price, the company said.

Current investors General Atlantic and Ares SSG are likewise partaking in this money-raising. This Money Raising will also include family investment vehicles of Aditya Puri, Salisbury Investments, a senior counselor to Carlyle Group in Asia, and previous overseeing chief and CEO of India’s biggest Private bank HDFC.

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The deal will trigger a mandatory open offer by Pluto Investments to buy up to 26% equity in PNB Housing Finance.

“The current money raising and arranged fortifying of the governing body and supervisory group will permit us to speed up our essential needs, including growing our impression, digitizing the organization, improving our working model and our client commitment.” Hardayal Prasad, Managing Director and CEO of PNB Housing Finance said.

Let us Tell you, that PNB Housing Finance was established in 1988, and it is the fourth largest housing finance company in terms of loan assets in India.