Fell short of mandatory borrowing through debt securities in FY20: PNB HF

PNB Housing Finance on Saturday said it fell short of mandatory borrowing through debt securities in 2019-20 by Rs 2,467.50 crore because of a subdued debt market.

The housing finance company (HFC) said its incremental borrowing last fiscal was Rs 21,870 crore.

Of this, the mandatory borrowing to be done through issuance of debt securities (25 per cent of incremental borrowing) was Rs 5,467.50 crore, but the company's actual borrowing under this head stood at Rs 3,000 crore.

Hence, there was a shortfall of Rs 2,467.50 crore in the mandatory borrowing through debt securities.