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

Next Story
Products

Mulroom Revolutionizes India’s Furniture Market

India's furniture market, a rapidly growing industry, has long grappled with inefficient supply chains, high costs, and limited customization options. Enter Mulroom, a tech-driven startup founded by Parikshit Guhabiswas, which aims to revolutionize the sector through a direct-to-consumer (DTC) model that empowers craftspeople and small-scale manufacturers while promoting sustainability. Mulroom tackles the industry's age-old problems by eliminating middlemen and implementing a lean, technology-enabled supply chain that cuts down waste and reduces costs. By leveraging AI-powered demand forecas..

Next Story
Infrastructure Urban

Build Capital Exits Second SRA Project with 19.76% IRR

Build Capital, an early-stage real estate financier, has successfully exited its investment in a Slum Rehabilitation Authority (SRA) project near Bandra-Kurla Complex (BKC), Mumbai. This marks another successful exit for Build Capital this year, highlighting its focus on delivering superior stakeholder value through structured real estate financing. Build Capital partnered with the developer during the early stages of the project, which had faced significant delays. Its investment facilitated the completion of rehabilitation works and the conversion of scheme parameters to DCPR 2034, enhancin..

Next Story
Infrastructure Urban

Chandak Group Celebrates Women’s Identity

Chandak Group marked this Women’s Day with a powerful and heartfelt gesture aimed at celebrating the individuality and strength of women. Instead of conventional celebrations, the real estate brand launched a meaningful campaign to honor the women who have made Chandak homes their own. The initiative offered every woman homebuyer a unique, personalized memento—a beautifully engraved, sustainable keyholder featuring her name. This thoughtful token serves not only as a keepsake but also as a recognition of her journey, achievements, and rightful space within the home. The campaign’s emot..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?