Board of PNB Housing Finance approves modification to resolution on raising Tier 1 capital

At meeting held on 27 January 2021

The Board of PNB Housing Finance at its meeting held on 27 January 2021 has approved the modification to the earlier board resolution dated 19 August 2020 for raising of tier-1 capital for an amount not exceeding Rs 1800 crore to include additional mode of raising funds i.e. QIP (Qualified Institutional Placement) along with Preferential issue/ Rights issue and/or combination thereof as may be considered appropriate, in one or more tranches, by way of issue of equity shares or any other securities in accordance with the applicable laws, subject to such other approvals including approval of the shareholders and further subject to such other statutory/ regulatory approvals as applicable.

The said funds are being raised to augment the capital base of the Company including general corporate purposes of the Company.

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