PNBHF on Saturday told BSE the market regulator’s letter asks the company not to act on the share and "comply with the legal provisions in the matter".
“The Company and its Board of Directors have considered the SEBI
Letter, and continue to believe that the Company has acted in compliance with all relevant applicable laws,” said PNBHF in its letter to BSE.
PNBHF’s decision to preferentially allot Rs 3,200 crore worth of shares and Rs 800 crore worth of warrants to Carlyle, former HDFC Bank chief executive officer Aditya Puri’s family investment vehicle, General Atlantic, and Alpha Investments at Rs 390 a piece was “unfair” to public shareholders and shareholders, said Stakeholders Empowerment Services, a governance watchdog, in a report earlier in the June
The company, in its letter to Sebi, said it had complied with the laws the preferential allotment was "in the best interests" of shareholders.
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