INSUBCONTINENT EXCLUSIVE:
PNB Housing Finance has said that Sebi has asked it to hold back its share allocation processPNB Housing Finance Ltd (PNBHF) on Sunday said
that the markets regulator has asked it to put on hold a share allocation worth 40 billion rupees ($539.81 million) to a clutch
of investors led by Carlyle Group Inc.The company, in a statement, said it had received a letter from the Securities and Exchange Board of
India (SEBI) requesting it to not proceed with the allocation until it undertakes an independent valuation of the shares.PNBHF, which
announced the allocation in May, said it has acted in compliance with all relevant applicable laws and "is evaluating further steps in this
regard."Reuters could not immediately reach SEBI or Carlyle for comment.
