PNB Housing Finance Ltd approves 29:54 rights issue at Rs. 275 per share

The Board of directors of PNB Housing Finance Limited at its meeting held today, March 28, 2023, has considered and approved the following terms of the Rights Issue:

Instrument: Fully paid-up Equity Shares of face value of ₹10 each;

Total number of Equity Shares and Rights Issue size: 9,06,81,828 fully paid-up Equity Shares each for amount aggregating up to ₹2,493.76 crore;

Rights Issue Price: ₹275 per fully paid-up Equity Share (including a premium of ₹265 per Equity Share);

Record Date: Wednesday, April 05, 2023 designated for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders");

Rights Issue period:

Rights Issue Opening Date: Thursday, April 13, 2023;
Rights Issue Closing Date: Thursday, April 27, 2023;

Outstanding Equity Shares:

Prior to the Rights Issue: 16,88,55,818 fully paid Equity Shares;
Post Rights Issue# : 25,95,37,646 fully paid Equity Shares;

Rights Entitlement Ratio: 29:54 (Number of Rights Equity Shares that an Eligible Equity Shareholder is entitled to in proportion to the number of Equity Shares held by such Eligible Equity Shareholder on the Record Date, in this case being 29 Rights Equity Shares for every 54 Equity Shares held by an Eligible Equity Shareholder.)

Shares of PNB Housing Finance Limited was last trading in BSE at Rs. 486.25 as compared to the previous close of Rs. 466.85. The total number of shares traded during the day was 19176 in over 844 trades.

The stock hit an intraday high of Rs. 492.65 and intraday low of 464.50. The net turnover during the day was Rs. 9130734.00.

#assuming full subscription

Source : Equity Bulls

Keywords

PNBHousingFinance INE572E01012 FundRaising RightsIssue RecordDate