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PNB Housing Finance gets board's approval to raise Rs 1,800 crore

PNB Housing Finance also appointed Neeraj Vyas as an additional director in the category of non- executive non-independent director of the company with effect from September 1, 2020

August 19, 2020 / 07:49 PM IST
 
 
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The board of PNB Housing Finance on August 19 approved raising equity capital worth Rs 1,800 crore through preferential/rights issue, the company said in an exchange filing.

The company had said in July that it will seek shareholders' approval next month to raise up to Rs 45,000 crore through debt securities.

Punjab National Bank (PNB) had also reportedly said last month that it will infuse Rs 600 crore in the housing finance arm through preferential issue.

In another regulatory filing, PNB Housing informed the exchanges that it has appointed Neeraj Vyas as an additional director in the category of non- executive non-independent director of the company with effect from September 1, 2020.

For the June quarter of FY21, the housing financier reported a consolidated net profit of Rs 257.18 crore, down 9.6 percent year-on-year (YoY), mainly due to lower disbursement amid the COVID-19 pandemic.
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first published: Aug 19, 2020 07:48 pm
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