PNB Housing Finance grows 3% as firm announces fundraising plans
Real Estate

PNB Housing Finance grows 3% as firm announces fundraising plans

PNB Housing Finance added around 3% in early trade as the investors cheered its fresh efforts to raise capital through fundraising.

The mortgage lender board is scheduled to raise capital through a rights issue after a failed attempt to garner Rs 4,000 crore by selling a stake to Carlyle Group.

PNB Housing Finance’s counter rose to Rs 414.40 against the previous close of Rs 402.90 on the National Stock Exchange (NSE).

Bombay Stock Exchange (BSE) Sensex and the Nifty 50 were trading down 3% and 2.8% respectively.

The company told the media that a meeting of the Board of Directors of PNB Housing Finance Limited had been scheduled to be held on 9 March to consider fundraising options by the issue of equity shares through suitable methods, subject to requisite approvals.

According to the Securities and Exchange Board of India (SEBI) Regulations 2015, and the Insider Trading Policy of the Company, the trading window for dealing in the securities will be closed from 5 March to 11 March for the appointed persons.

According to a report, PNB Housing Finance had decided to sell a part of its stake to a group of investors led by Carlyle Group.

The matter has reached the Securities Appellate Tribunal (SAT) after the intervention of SEBI. The company has nixed the proposal of raising Rs 4,000 crore funds due to a legal battle.

Image Source

Also read: PNB Housing Finance Q2 results: Net profit down 25% at Rs 235.21 cr

PNB Housing Finance added around 3% in early trade as the investors cheered its fresh efforts to raise capital through fundraising. The mortgage lender board is scheduled to raise capital through a rights issue after a failed attempt to garner Rs 4,000 crore by selling a stake to Carlyle Group. PNB Housing Finance’s counter rose to Rs 414.40 against the previous close of Rs 402.90 on the National Stock Exchange (NSE). Bombay Stock Exchange (BSE) Sensex and the Nifty 50 were trading down 3% and 2.8% respectively. The company told the media that a meeting of the Board of Directors of PNB Housing Finance Limited had been scheduled to be held on 9 March to consider fundraising options by the issue of equity shares through suitable methods, subject to requisite approvals. According to the Securities and Exchange Board of India (SEBI) Regulations 2015, and the Insider Trading Policy of the Company, the trading window for dealing in the securities will be closed from 5 March to 11 March for the appointed persons. According to a report, PNB Housing Finance had decided to sell a part of its stake to a group of investors led by Carlyle Group. The matter has reached the Securities Appellate Tribunal (SAT) after the intervention of SEBI. The company has nixed the proposal of raising Rs 4,000 crore funds due to a legal battle. Image Source Also read: PNB Housing Finance Q2 results: Net profit down 25% at Rs 235.21 cr

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code