PNB Housing Finance Raises Rs 2494 Crore From Rights Issue

PNB Housing Finance

PNB Housing Finance Raises Rs 2494 Crore From Rights Issue

May 1, 2023: PNB Housing Finance, one of India’s leading housing finance companies, has successfully raised Rs 2494 crore from its recent rights issue.

The company had offered shares to its existing shareholders in a bid to raise capital and strengthen its balance sheet.

The rights issue was oversubscribed, with the company receiving applications worth Rs 2568 crore, indicating strong investor interest in PNB Housing Finance.

The funds raised from the rights issue will be used to support the company’s growth plans, including its expansion into new markets and the development of new products and services.

In a statement, Managing Director and CEO of PNB Housing Finance, said, “We are pleased to have successfully completed our rights issue, which will enable us to further strengthen our balance sheet and support our growth plans.

The oversubscription of the issue is a testament to the confidence that our shareholders have in the company and its future prospects.”

PNB Housing Finance has been expanding its operations in recent years, with a focus on affordable housing finance and digital transformation.

The company has also been investing in technology and innovation to enhance its customer experience and streamline its operations.

The successful rights issue is expected to boost the company’s financial position and help it achieve its long-term growth targets.

The company has expressed its commitment to responsible and sustainable practices, and has implemented measures to mitigate risks and ensure compliance with regulatory requirements.

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