PNB Housing Finance board approves fund raising
The board of directors of PNB Housing Finance has approved to raise equity capital aggregating upto Rs 1800 crore through preferential issue / rights issue.
The announcement was made after market hours yesterday, 19 August 2020. Shares of PNB Housing Finance rose 5.58% to settle at Rs 275.45 yesterday.
The company's consolidated net profit slipped 9.6% to Rs 257.18 crore on 16.1% decline in total income to Rs 1,872.33 crore in Q1 June 2020 over Q1 June 2019.
PNB Housing Finance is a deposit taking housing finance company. As on 30 June 2020, it had 103 branches with presence in 64 cities and 23 hubs.
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First Published: Aug 20 2020 | 8:41 AM IST