PNB Housing Finance Limited ₹ 2,493.76 Crore Rights Issue subscribed by around 1.21x times

PNB Housing Finance Limited today announced that it has achieved successful closure of its rights issue of up to ₹ 2,493.76 crore (“Rights Issue”). It was subscribed approximately 1.21 times. The Rights Issue that closed on April 27, 2023, received huge investor interest.

On the success of the Rights Issue, Mr. Girish Kousgi, Managing Director & Chief Executive Officer, PNB Housing Finance said, “I am delighted that we received stupendous response from institutional and individual investors, both Indian and foreign for this rights issue. We would like to thank all our existing shareholders, as well as new investors joining us, for expressing their trust in our company. It demonstrates their confidence in our business model which I am sure will enable us to capitalize on the available growth opportunities. The capital raise will further strengthen our balance sheet and act as a catalyst for growth.”

The allotment of Rights Equity Shares will happen on or about May 4, 2023. The Rights Equity Shares are expected to be listed on the BSE and NSE on or around May 11, 2023.

Axis Capital Limited, BNP Paribas, BoFA Securities India Limited and J.P. Morgan India Private Limited are acting as the lead managers to the Rights Issue.

Shares of PNB Housing Finance Limited was last trading in BSE at Rs. 444.65 as compared to the previous close of Rs. 444.15. The total number of shares traded during the day was 18242 in over 524 trades.

The stock hit an intraday high of Rs. 451.20 and intraday low of 441.55. The net turnover during the day was Rs. 8118226.00.

Source : Equity Bulls

Keywords

PNBHousingFinance INE572E01012 RightsIssue Oversubscription