PNB board approves investing Rs 500 cr in PNB Housing's rights issue

PNB Housing Finance is looking to raise Rs 2,000 crore by issuing NCDs on a private placement basis

PNB, Punjab national bank
Nikunj Ohri New Delhi
1 min read Last Updated : Jun 08 2022 | 1:59 AM IST
The board of Punjab National Bank (PNB) has approved an investment of Rs 500 crore by participating in the rights issue of PNB Housing Finance. 

The investment by state-owned lender in its housing finance arm will help PNB in maintaining its shareholding at 30 per cent or below and retain its status as a promoter, the bank said in an exchange filing. 

PNB Housing Finance is looking to raise Rs 2,000 crore by issuing non convertible debentures (NCD) on a private placement basis. The board of the mortgage lender will consider and approve the proposal of issuance of NCDs on June 14. 

Topics :PNB Housing Finance LtdPunjab National BankPNB

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