PNB Housing Finance closes rights issue worth ₹ 2,493.76 crore

PNB Housing Finance closes rights issue worth ₹ 2,493.76 crore

The Rights Equity Shares are expected to be listed on the BSE and NSE on or around May 11, 2023.

FPJ Web DeskUpdated: Friday, April 28, 2023, 10:27 PM IST
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According to an exchange filing, PNB Housing Finance Limited has achieved successful closure of its rights issue of up to ₹ 2,493.76 crore, which was was subscribed approximately 1.21 times.

After the Rights Issue, which closed on April 27, 2023, received huge investor interest, MD and CEO Girish Kousgi said that, “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."

He added that, "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.

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