Red flags as PNB stake in housing finance subsidiary may dip below 26%

Red flags as PNB stake in housing finance subsidiary may dip below 26%

Questions are likely to be raised at the shareholders’ meeting of Punjab National Bank Housing Finance (PNBHF) later this month over the possibility of Punjab National Bank (PNB) losing its dominant shareholder status in the company. And into the circumstances of last week’s Rs 4000-crore investment in PNBHF announced by a consortium of investors, led by US private equity giant The Carlyle Group and former HDFC Bank Ltd chief executive Aditya Puri.

The capital infusion will make Carlyle the largest shareholder in PNB Housing. This despite the fact that both the government and PNBHF publicly committed to ensuring that PNB maintains a 26% stake.

News Source: INDIANEXPRESS

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