PNB Housing Finance will issue these debentures on a private placement basis. Private placement means that these debentures will not be issued through the public route. They will be sold privately to investors such as large financial institutions. These non-convertible debentures will be issued in one or more tranches. Tranch means the portion of the money that will be raised in one go through the issuance of debentures. The specific purpose for which the money raised through these debentures has not been explicitly stated by PNB Housing Finance. But it will probably be used by the company to give out more housing loans to its customers.
PNB Housing Finance’s stock is down by more than 1% today. It is trading at around Rs326.80 per share.
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