PNB Housing's rights issue to be completed by Dec
ECONOMY & POLICY

PNB Housing's rights issue to be completed by Dec

State-owned Punjab National Bank (PNB) said the Rs 2,500 crore-rights issue of its subsidiary PNB Housing Finance is expected to conclude earliest by December. Following the rights issue, the shareholding of PNB as a promoter of the company would come down from the current level of 32.57% to below 30%.

“RBI has given approval for infusion of Rs 500 crore in PNB Housing Finance. Post rights issue, the holding of the bank would come down below 30 per cent but would be higher than 26 per cent so that bank retains promoter status,” PNB Managing Director A K Goel said.

PNB will not be subscribing to the rights issue proportionate to its current holding in the company as the Reserve Bank of India (RBI) has allowed the bank to invest only up to Rs 500 crore in the rights issue. Consequently, the lender's stake in the mortgage firm will come down below 30 per cent from the current level.

State-owned Punjab National Bank (PNB) said the Rs 2,500 crore-rights issue of its subsidiary PNB Housing Finance is expected to conclude earliest by December. Following the rights issue, the shareholding of PNB as a promoter of the company would come down from the current level of 32.57% to below 30%. “RBI has given approval for infusion of Rs 500 crore in PNB Housing Finance. Post rights issue, the holding of the bank would come down below 30 per cent but would be higher than 26 per cent so that bank retains promoter status,” PNB Managing Director A K Goel said. PNB will not be subscribing to the rights issue proportionate to its current holding in the company as the Reserve Bank of India (RBI) has allowed the bank to invest only up to Rs 500 crore in the rights issue. Consequently, the lender's stake in the mortgage firm will come down below 30 per cent from the current level.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement