SEBI has issued a stay order on PNB Housing Finance’s 4000 crore deal with Carlyle Group with immediate effect. In such a situation, know what will be its effect on investors.
Carlyle group is about to invest 4000 crores in PNB Housing Finance.
PNB Housing Finance News: Punjab National Bank Housing Finance has suffered a major setback from market regulator SEBI. SEBI has stayed the bank’s decision to raise funds of Rs 4000 crore from Carlyle Group Group through preferential share issue with immediate effect. Let us tell you that after this news came on 31 May, this stock had jumped up to 100 percent in the next seven trading sessions. After the arrival of this news, investors need to understand a few things.
In fact, SEBI has said that the share price of Punjab National Bank Housing Finance has jumped excessively, due to which the valuation of the company is very high. In such a situation, he needs to get his value fixed from the Independent Registered Valuer. The share of PNB Housing Finance Ltd closed at Rs 737.80 this week. This is the incident of 31st May when it was reported in the market that Carlyle group is going to invest a huge amount of 4000 crores in PNB Housing Finance.
Carlyle Group is getting this share at Rs 390
Under the preferential share issue, Carlyle Group will get Rs 390 per share, while its share price was Rs 438.05 at the close of the market on May 28. When the news came on May 31, this stock got an upper circuit of 20 percent and it closed at the level of 525.65. Explain that after this deal, Carlyle’s stake in PNB Housing Finance will increase to 50 percent. Also, the former head of HDFC Bank can nominate Aditya Puri on the Carlyle Group board.
SEBI called this stock over power
SEBI has described this stock as ultra-vires i.e. over power. The share which was priced at Rs 438 on 28 May reached Rs 881 on 7 June after this news came to the fore. The stock jumped over 100 per cent in just six trading sessions. However, after that it has declined and so far it has corrected about 16.50 percent. The closing price of this week is Rs 738.
The pressure on the stock continues since June 8
After continuous upper circuit till 7th June, its shares are continuing to decline from 8th June. It has corrected about 16 percent in the last 9 trading sessions. Since June 7, this stock has closed in the green mark for only two days and in the red mark for seven days. When the market opens on Monday, the effect of this news will definitely be visible. In such a situation, if you have also invested, then keep an eye on the news related to it and take the right decision with the right information at the right time.
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