PNB Housing Finance Ltd board approves QIP to raise Rs. 1700 crore

The Board of Directors of PNB Housing Finance Limited (the "Company") at its meeting held today i.e., March 3, 2020, has approved to raise equity capital aggregating upto Rs. 1,700 crore through a qualified institutions placement in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "SEBI ICDR Regulations" and such qualified institutions placement, the "QIP") and other statutory laws as applicable, subject to the approval of shareholders through a postal ballot and applicable regulatory approvals.

Shares of PNB Housing Finance Ltd was last trading in BSE at Rs.338.25 as compared to the previous close of Rs. 359.7. The total number of shares traded during the day was 34581 in over 2008 trades.

The stock hit an intraday high of Rs. 374.45 and intraday low of 333.75. The net turnover during the day was Rs. 12277218.

Source : Equity Bulls

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