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Stocks Markets Live: Sensex, Nifty Climb Led By Reliance; Aurobindo Pharma Slips On Q4 Miss – BloombergQuint

Shares of the non-banking finance company jumped as much as 20%, the most since Oct. 25, 2019, after its board approved a Rs 4,000 crore fundraise proposal.

The fundraising will be led by entities affiliated with The Carlyle Group Inc and will trigger an open offer. Carlyle entity to invest up to Rs 3,185 crore through a preferential allotment of equity shares and warrants, at a price of Rs 390 per share.

The existing shareholders of the company also participating in the fundraise. Salisbury Investments Pvt. Ltd., the family investment vehicle of Aditya Puri, Senior Advisor for Carlyle in Asia, will also invest in the capital raise.

Puri is expected to be nominated to the PNB Housing Finance Board as a Carlyle nominee director in due course, according to the company’s notification to the exchanges.