PNB Housing Finance's board has okayed to raise up to Rs 1,800 crore through a preferential or rights of shares. Of this, promoter Punjab National Bank (PNB) has already given its nod to infuse Rs 600 crore.
PTI
With about Rs 1,800 crore equity fund raise in the pipeline, PNB Housing Finance plans to repay its high-cost borrowings and will ask its lenders to sweeten the lending rates as the firm is working consistently to improve profitability parameters besides enhancing the value proposition for the investors, its MD and CEO Hardayal Prasad said.
PNB Housing Finance's board has okayed to raise up to Rs 1,800 crore through a preferential or rights of shares. Of this, promoter Punjab National Bank (PNB) has already given its nod to infuse Rs 600 crore.
Prasad said there is a large number of investors, of whom almost 84-85 per cent are institutional investors, who are all interested in the company.
"But, we are also getting inquiries from many other players who feel that they have the ability to invest in the company directly. So, as far as the interest of our investors are concerned, it is high for the company and the franchise that has been built," Prasad told.First Published on Nov 4, 2020 04:25 pm