Wednesday 27 June 2018

PNB Housing Finance gains over 1% after it announced fundraising plan of Rs 10,000 crore

Shares of PNB Housing Finance gained over a percent in the morning trade as investors digested its fundraising plans.The stock has touched an intraday high of Rs 1,227.35 and an intraday low of Rs 1,215.00.The lender on Tuesday said that it plans to raise up to Rs 10,000 crore by issuing bonds through public issue. The board of directors of the company in a meeting approved the proposal of raising of funds by way of public issue of secured and /or unsecured non-convertible debentures for an amount up to Rs 10,000 crore, PNB Housing Finance said in a regulatory filing.The company said the money will be raised in one or more tranches.



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