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PNB Housing Finance gains as its board of directors accepts a financing plan.

PNB Housing Finance stock rose 4% in morning trading on March 10; a day after the company’s board of directors approved fundraising.

Source: IPOINFO



“The board of directors of PNB Housing Finance accepted the proposal of fund-raising up to; an amount not exceeding Rs 2,500 crore at its meeting held on March 09, 2022,” the business said in a press release.

The fundraise is subject to regulatory approvals and will be done by issuing equity shares on a right-issue basis to the company’s eligible equally shareholders as of the record date (to be notified subsequently)

The exact terms in respect to the rights issue, including but not limited to the issue price; rights entitlement ratio, record date, time, and payment terms, will be determined in due course, according to the statement.

PNB Housing Finance was trading at Rs 423.80 on the BSE at 10:06 a.m., up Rs 3.45, or 0.82 percent.

On June 8, 2021, the stock hit a 52-week high of Rs 924; on April 19, 2021, it hit a 52-week low of Rs 350. It is currently trading 54.13 percent lower than its 52-week high and 21.09 percent higher than its 52-week low.

Source: IPOINFO


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