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PNB Housing Shares Fall After Order to Halt Carlyle Deal

  • Mortgage financier appeals to tribunal against regulator order
  • Stock market regulator asked firm to review valuation of deal
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Shares of PNB Housing Finance Ltd. fell after India’s capital markets regulator ordered a halt to its proposed fund-raising plan by a group of investors led by private equity firm Carlyle Group Inc.

The mortgage arm of India’s second-largest state lender, Punjab National Bank, dropped as much as 5% in Mumbai on Monday, outpacing a 1.8% decline in the broader banking gauge.