Shares of PNB Housing Finance gained over a percent in the morning trade as investors digested its fundraising plans.
The stock has touched an intraday high of Rs 1,227.35 and an intraday low of Rs 1,215.00.
The lender on Tuesday said that it plans to raise up to Rs 10,000 crore by issuing bonds through public issue. The board of directors of the company in a meeting approved the proposal of raising of funds by way of public issue of secured and /or unsecured non-convertible debentures for an amount up to Rs 10,000 crore, PNB Housing Finance said in a regulatory filing.
The company said the money will be raised in one or more tranches.
It is promoted by state-owned Punjab National Bank, which holds 32.96 percent in the housing finance subsidiary.
The rest of 67.04 percent is owned by institutional investors, including mutual funds, venture capital funds, foreign portfolio investors; financial institutions and banks; individuals and foreign companies.
At 09:20 hrs PNB Housing Finance was quoting at Rs 1,219.25, up Rs 6.95, or 0.57 percent, on the BSE.
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