PNB Housing Finance to consider proposal of fund raising up to Rs 2,500 crore via NCDs

PNB Housing Finance has seen quite a few major stake sales in recent months, with big names like The Carlyle Group, General Atlantic Singapore and Asia Opportunities V (Mauritius) being sellers in the those deals.

PNB Housing Finance in a regulatory filing on September 4 said that the board of directors is scheduled to meet on September 9 to consider and approve the issuance of Non-Convertible Debentures (NCDs) up to Rs 2,500 crore on a private placement basis, in tranches over the next six months.

PNB Housing Finance has seen quite a few major stake sales in recent months, with big names like The Carlyle Group, General Atlantic Singapore and Asia Opportunities V (Mauritius) being sellers in those deals.

With PNB Housing Finance seeing a flurry of big stake sales which has resulted in the exit and entry of several institutional investors, the company's revised shareholding is likely to witness an upheaval.

PNB Housing has reported a 25 percent jump in net profit for fiscal first quarter at Rs 433 crore, helped by a steady growth in home loans.

The company’s gross non-performing assets (GNPA) declined by 241 basis points (bps) to 1.35 percent from 3.76 percent last year. Net NPA declined to 0.92 percent versus 2.59 percent last year.

Disbursement grew 19 percent YoY to Rs 4,398 crore. Retail disbursement constituted 99 percent with emerging markets and affordable segments contributing 33 percent of the retail disbursement in the quarter.

On September 4, the lender's shares settled at Rs 1052.90 apiece on the BSE, which was up Rs 50 or 4.99 percent higher than the previous day's close.