PNB Housing Finance to raise up to Rs 2,500 cr via rights issue

In October 2021, PNB HFC dropped plans for a preferential issue of equity shares to raise Rs 4,000 crore from a group of investors led by private equity fund Carlyle

PNB Housing Finance (PNB HFC) plans to raise up to Rs 2,500 crore in equity by issuing shares through rights issue to meet capital adequacy norms and support business growth.

Its board gave a nod for the proposal to raise capital at a meeting held today. It would communicate issue price, entitlement ratio and timing in due course, the company informed the stock exchanges. On Wednesday, its stock closed 0.6 per cent higher at Rs 420.35 per share on BSE.

Its capital adequacy ratio (CAR) stood at 21.59 per cent with tier I of 18.9 per cent at end of