Indian mortgage lender PNB Housing Finance scraps $533m stake sale to Carlyle

PNB Housing Finance, on Thursday, said that its board has decided to terminate the 4,000 crore ($533 million) stake sale to a clutch of investors led by Carlyle Group, citing delays caused by pending legal proceedings.

In an exchange filing, the mortgage lender said that Carlyle Group affiliate Pluto Investments initiated the process to withdraw the open offer after the housing finance company decided against proceeding with the preferential allotment.

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