CNBC-TV18 has learnt that PNB Housing Finance is holding a board meet on March 9 to mull fund raising plans. It is understood that it looks to launch a large rights issue.
PNB Housing Finance is looking at raising close to about USD 400 million through rights issue. The board is going to decide on it on March 9.
Critical to the success of a rights issue by PNB Housing Finance, which has been struggling to raise fund, is the participation by two important shareholders, PNB as well as Carlyle. It is understood that PNB is likely to participate in the rights issue and even Carlyle from a new fund is looking to put additional money and engage in the rights issue process.
Other two investors, SSG as well as General Atlantic, will be taking a call depending on the pricing of the rights issue.
Watch the accompanying video of CNBC-TV18’s Nisha Poddar for exclusive details.
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