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The PNB Housing Finance was locked in the upper circuit of 5 per cent at Rs 750.10 on the BSE in Thursday’s session. The stock of the housing finance company recovered 9 per cent from the low of Rs 690 touched in the intra-day deal today. It has fallen 25 per cent from its 52-week high level of Rs 924 touched June 8, 2021, amid concerns raised in certain quarters about its proposed Rs 4,000 crore-deal with Carlyle group.
Till 01:42 pm, a combined around 1,90,000 shares of PNB Housing had changed hands and there were pending buy orders for 12,000 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.22 per cent at 52,384 points.
PNB Housing Finance on Wednesday said the process followed in determining the issue price for its securities was in line with the “market practice” followed by listed companies and in compliance with the applicable law.
Responding to the clarifications sought by the stock exchanges on Monday regarding the deal, the company — a subsidiary of Punjab National Bank, also emphasized that pricing is not required to be based on a valuation report from a registered valuer and that the final price is higher than the floor price suggested by registered valuers, PTI reported.
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