PNB Housing Finance Eyes Rs 3,500 Crore Boost via NCDs, Share Prices Rise 0.5%

17 Nov 2023 , 01:11 PM

PNB Housing Finance shares rose by 0.5% on November 17, as the company considers raising Rs 3,500 crore through Non-Convertible Debentures (NCDs). The board of directors is scheduled to meet on November 24 to approve the issuance of NCDs on a private placement basis, totaling up to Rs 3,500 crore, spread over the next six months.

In an earlier CNBC-TV18 interview, MD and CEO Girish Kousgi projected the company’s book close to reaching Rs 1,000 crore by the end of the third quarter, rising from Rs 750 crore in September. The aim is to reach Rs 2,000 crore by March 2024.

Over the last six months, PNB Housing Finance shares surged by 66.52%, outperforming the Nifty 50 index, which rose by 8.71%.

Punjab National Bank, the promoter, slightly reduced its holding to 28.1% in the quarter ending September, while the number of FII investors increased to 133, holding 24.81%. DIIs held 7.7%, and the public owned 39.3% of the firm, as per data.

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