PNB Housing's Board approves Rs2,500 crore fundraise; stock gains over 1%

10 Mar 2022 , 09:38 AM

In its regulatory filing earlier on March 9, 2022, PNB Housing Finance Ltd. informed the investors that the company’s Board of Directors approved the proposal for fundraising up to an amount of Rs2,500 crore, subject to regulatory approvals. The company will issue equity shares on a rights issue basis to the eligible equity shareholders of the company on the record date.

The company informed that the terms of the right issue including but not limited to the issue price, rights entitlement ratio, record date, timing, and terms of payment will be determined in due course.

PNB Housing Finance opened at Rs431 and is currently trading at Rs424.95 against its previous closing price of Rs434 and Rs422 respectively.