PNB Housing Finance has received capital markets regulator Sebi's go ahead to raise up to Rs 2,500 crore through rights issue of shares. The housing finance firm, which had filed draft papers with Sebi in December 2022 regarding the rights issue, obtained its 'observations' on March 6, which is necessary for any company to launch the issue.
PNB Housing will issue fully paid-up equity shares of the company by way of a rights issue to its existing shareholders for an amount not exceeding Rs 2,500 crore. The company intends to utilise the net proceeds from the issue towards augmenting its capital base.
PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.
