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As SEBI&nbsp;asks for an Independent valuation of the Rs 4000 cr PNB&nbsp;Housing-Carlye&nbsp;deal putting the deal on hold. Veteran investor Samir&nbsp;Arora&nbsp;backs the shareholder rights and calls out the concerns in corporate governance in the mega deal.&nbsp;Samir&nbsp;Arora&nbsp;tweeted saying "&nbsp;Control transaction at a discount to market price where the acquirer pays 75% of the amount after 18 months - now that is a deal and shows how PE investors help worsen corporate governance if no oversight." He goes on to make the case for the share valuation to be assessed as Arora&nbsp;says "&nbsp;"A preferential issue of shares and warrants" and a "preferential issue of shares and warrants that also gives controlling interest" are not one and the same thing."PNB&nbsp;Housing-Carlye&nbsp;deal is set to offer shares to&nbsp; the 'acquirer' Carlyle for Rs 390/share vs the current market-price of over Rs 700/share or the share price of Rs 500/share at the time the deal was announced.&nbsp;

Samir Arora speaks out on the PNB Housing-Carlyle deal, sides with SEBI & shareholders

Samir&nbsp;Arora&nbsp;backs a deeper look into the Carlyle-PNB&nbsp;housing deal that is raising questions on corporate governance.&nbsp;

As SEBI&nbsp;asks for an Independent valuation of the Rs 4000 cr PNB&nbsp;Housing-Carlye&nbsp;deal putting the deal on hold. Veteran investor Samir&nbsp;Arora&nbsp;backs the shareholder rights and calls out the concerns in corporate governance in the mega deal.&nbsp; Samir&nbsp;Arora&nbsp;tweeted saying "&nbsp;Control transaction at a discount to market price where the acquirer pays 75% of the amount after 18 months - now that is a deal and shows how PE investors help worsen corporate governance if no oversight." He goes on to make the case for the share valuation to be assessed as Arora&nbsp;says "&nbsp;"A preferential issue of shares and warrants" and a "preferential issue of shares and warrants that also gives controlling interest" are not one and the same thing." PNB&nbsp;Housing-Carlye&nbsp;deal is set to offer shares to&nbsp; the 'acquirer' Carlyle for Rs 390/share vs the current market-price of over Rs 700/share or the share price of Rs 500/share at the time the deal was announced.&nbsp;

SEBI&nbsp;has ordered the PNB-Housing Carlyle deal to be put on hold as the market regulator SEBI&nbsp;wants&nbsp;an independent valuation of shares to be conducted.&nbsp;The Rs 4000 cr deal with Carlyle for the PNB&nbsp;backed mortgage lender involves&nbsp;issuing shares and warrants on a preferential basis to private equity firm&nbsp;Carlyle Group&nbsp;and associates to acquire 50% stake in the company.&nbsp;The price of each share and convertible warrant is Rs 390.&nbsp;The stock of PNB&nbsp;Housing is up over 70% just tin the month of June, trading above the Rs 700/share mark at the time this report was written.&nbsp;
SEBI&nbsp;has stated the resolution about the issue of securities was &ldquo;ultra-vires&rdquo; of the Articles of Association (AoA). The resolution will not be acted upon until the company does the valuation of shares (for preferential allotment) by an independent, registered valuer.PNB HFC in a late night filing with the BSE said the company had acted in compliance with the laws, including pricing regulations prescribed by&nbsp;Sebi&nbsp;and the AoA.
PNB&nbsp;Housing was supposed to hold an extraordinary general meeting of shareholders on June 22 to consider the preferential allotment (shares and warrants).&nbsp;
&nbsp;

SEBI halts PNB Housing Finance- Carlyle deal, what is the holdup?

PNB&nbsp;Housing stock up 70% in under a month, so why has SEBI&nbsp;out on hold the Rs 4000 cr Carlyle deal that is exciting shareholders?

SEBI&nbsp;has ordered the PNB&nbsp;Housing Carlyle deal to be put on hold as the market regulator SEBI&nbsp;wants&nbsp;an independent valuation of shares to be conducted.&nbsp; The Rs 4000 cr deal with Carlyle for the PNB&nbsp;backed mortgage lender involves&nbsp;issuing shares and warrants on a preferential basis to private equity firm&nbsp;Carlyle Group&nbsp;and associates to acquire 50% stake in the company.&nbsp;The price of each share and convertible warrant was set at Rs 390/share The stock of PNB&nbsp;Housing is up over 70% just tin the month of June, trading above the Rs 700/share mark at the time this report was written.&nbsp;
SEBI&nbsp;has stated the resolution about the issue of securities was &ldquo;ultra-vires&rdquo; of the Articles of Association (AoA). The resolution will not be acted upon until the company does the valuation of shares (for preferential allotment) by an independent, registered valuer.PNB HFC in a late night filing with the BSE said the company had acted in compliance with the laws, including pricing regulations prescribed by&nbsp;Sebi&nbsp;and the AoA.
PNB&nbsp;Housing was supposed to hold an extraordinary general meeting of shareholders on June 22 to consider the preferential allotment (shares and warrants).&nbsp;
&nbsp;

Carlyle Group may invest $2 bn in Reliance Retail: Reports

Carlyle Group is looking to invest up to&nbsp;$2 billion to buy a stake in&nbsp;Reliance Retail&nbsp;Ventures Ltd

Carlyle Group is looking to invest up to&nbsp;$2 billion to buy a stake in&nbsp;Reliance Retail&nbsp;Ventures Ltd, Mint reported on Monday.
If a deal is finalised, it will mark Carlyle&rsquo;s first investment in the retail sector in India and its biggest so far in an Indian company.
Last week, Reliance Industries' retail arm&nbsp;raised $1 billion from Silver Lake Partners.

carlyle

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